< Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 600,000 shares of $100 par value 8% cumulative preferred stock. It is also authorized to issue 850,000 shares of $6 par value common stock. It has issued 70,000 of the cominon shares and 1,000 of the cumulative preferred shares. The corporation has ever declared a dividend and the preferred shares are one year in arrears, Aggregate Mining has the following transactions this year: Mar. A Declares cash dividend of $20,000. Mar. 30 Pays the cash dividend. Jul. 10 Declares a 3-for-1 stock split of its common shares. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required and leave the amount boxes blank. Mar. 1 Retained Earnings for Preferred Stock Retained Earnings for Common Stock 16,000 - 4,000 Cash Dividends Payable 20,000 Mar. 30 Cash Dividends Payable 28,000 V Cash 20,000 Jul. 10