Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued2,050shares of $50par value preferred stock and102,000shares of $10par value common stock. At December 31, the company declared the following cash dividends: 2019, $4,625; 2020, $13,500; and 2021, $28,500.

Journalize the declaration of the cash dividend at December 31, 2021, under part (b). (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 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31