Company issue preferred stock 100000 share for cash $23 per share. The par value for preferred stock is $20,6%. 

1) Journalize the issue of preferred stock? 

2) Show the allocation of dividends to each class of stock: 

A) Dividend cash of 500000$, preferred is non- cumulative. 

B) Dividend cash of 500000$ preferred is cumulative and did not received dividend for the past 2 years.