Cullumber Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 103,000 shares of $10 par value common stock. At December 31 , the company declared the following cash dividends: 2021,$5,500;2022,$14,100; and 2023,$29,000. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. Journalize the declaration of the cash dividend at December 31, 2023, 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 O for the amounts.)