10 QS 11-11 (Algo) Preferred stock issuance and dividends LO C2 7 points Return 1. Prepare the journal entry to record Tamas Company's issuance of 6,600 shares of $100 par value, 6% cumulative preferred stock for $106 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Tamas Company's issuance of 6,600 shares of $100 par value, 6% cumulative preferred stock for $106 cash per share. No A Transaction 1 General Journal Cash Paid-in capital in excess of par value, preferred stock > Required 1 Required 2 > Debit 699,600 Credit 39,600 660,000