2013 Prepare journal entries for the following. Shown is the capital structure prior to the transactions on Dec. 31, 1998. Common Stock, $10 par. 60.000 shares outstanding Preferred Cumulative Stock, 5%, $100 par, 1,000 shares outstanding ADD Paid-In Capital - Common Retained Earnings $ 600.000 $ 100.000 $ 750,000 $ 1.000.000 1-Jan Declared a $1.00 per share cash dividend payable on the 15th to common stockholders of record on January 10th. Also, dedered the dividend pertaining to preferred stockholders of record. 10-Jan DATE OF RECORD - CUT OFF DATE> DO NOTHING 12-Jan It was discovered in the records that Office Supplies Expense for last year's records was understated by $10,000. Prepare journal entry for the correction Corp. has 30% tex bracket. Office Supplies was also overstated. 15-Jan Paid the dividend(s). 21 Jan Board of Directors decide to appropriate $100,000 of retained eamings for a legal contingency. Instructor will use book for chante S8 CUANTE mann