ABC Corporation has two classes of stock: 4\%, \$100 Par Value - Cumulative Preferred stock; 2000 shares outstanding; there are no dividends in arreas. Common Stock $2.00PV;100,000 shares issued and outstanding. 01/02/22 The Board of Directors declares a $20,000 Cash Dividend to stockholders of record on 01/31/22; the payment date is February 15,2022. REQUIRED: 1) Compute the amount of the dividend for the Preferred and Common Shares 2) Record the Journal Entries for the Declaration Date, Date of Record and Payment Date