Company earned net income of 85,000 during the year ended December 31, 2024. 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). then paid the dividends on 4, 2025 1. Journalize for the entry declaring the cash dividends on 15, 2024 . 2. Journalize for the entry paying the cash dividends on January 4, 2025 .

Requirements 1. Journalize for Java the entry declaring the cash dividends on December 15, 2024. 2. Journalize for Java the entry paying the cash dividends on January 4, 2025. per share cash dividend on its common stock (50,000 shares). Java then paid the dividends on January 4, 2025. Read the