5 of 11 View Policies Current Attempt in Progress -/9.09 E Kingbird Corporation issued 103,000 shares of $20 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,590,000. In December 2023, Kingbird declared its first dividend of $720,000. (a) Prepare Kingbird's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Question 5 of 11 < > -/9.09 Prepare Kingbird's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 2 used Submit