6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares), Java then paid the dividends on January 4, 2019. Read the requirements Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2018 Dec. 15 (3) Requirement 2. Joumalize for Java the entry paying the cash dividends on January 4, 2019. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Debit Date Accounts and Explanation Credit 2019 Jan. 4 (10) 1: Requirements 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. 2. Journalize for Java the entry paying the cash dividends on January 4, 2019 (1) O O No entry required O Cash Cash Dividends O Common Stock-Par Value O Dividends Payable-Common Dividends Payable-Preferred Paid-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value O Retained Eamings (2) O No entry required O Cash Cash Dividends O Common Stock-Par Value Dividends Payable-Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value O Retained Eamings (3) O O No entry required O Cash O Cash Dividends O Common Stock-Par Value Dividends Payable-Common Dividends Payable-Preferred Paid-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value O Retained Earnings (5) O (4) O No entry required O Cash Cash Dividends Common Stock-Par Value Dividends Payable-Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Pald-In Capital In Excess of Par-Preferred O Preferred Stock-Par Value Retained Eamings Payment of cash dividend. Record date of record. Declared a cash dividend. Issued common stock for cash. Issued preferred stock for cash. (6) O O No entry required O Cash O Cash Dividends O Common Stock-Par Value Dividends Payable-Common Dividends Payable-Preferred O Pald-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value Retained Earnings (7) O No entry required O Cash O Cash Dividends O Common Stock-Par Value Dividends Payable-Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Pald-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value O Retained Eamings (8) O O No entry required O Cash O Cash Dividends O Common Stock-Par Value Dividends Payable-Common Dividends Payable-Preferred Paid-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock-Par Value Retained Earnings (10) O (9) O No entry required O Cash Cash Dividends O Payment of cash dividend. Record date of record. O Common Stock-Par Value Dividends Payable-Common Dividends Payable-Preferred Paid-In Capital in Excess of Par-Common O Paid-In Capital in Excess of Par-Preferred O Preferred Stock - Par Value Retained Eamings Declared a cash dividend. Issued common stock for cash. Issued preferred stock for cash