4. Keaubie Co., Inc. issued 10,000 shares of its $4 par value preferred stock for $12 per share. Journalize. Date Accounts Ref. Debit Credit Chapter 12 - Corporations: Organization, Stock Transactions, and Dividends And Retained Earnings Assignment 1 5. On July 1 Madison, Inc. declared $175,000 for cash dividends. Journalize the July 1 declaration and the July 31 payment. Date Accounts Ref. Debit Credit