Current Attemptin Progress Headlards Ltd issues 8.000, 55 cumulative preferred shares at 564 each and 14.000.common shares $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021, the following transactions affected Headlands's shareholders equity accounts 2020 10 P510,000 of sinal dividends to referred shareholders 2021 JM Mar 10 1 Paid annual dividend to preferred shareholders and a $4.600 dividend to common shareholders The preferred shares were converted into como shares. Journalize each of the transactions. (Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts: Date Account Titles and Explanation Debit Credit 2020 Cath Dividends. Preferred Jan. 10 Dividends Payable 70000 To record preferred share dividend) Debit Credit Date Account Titles and Explanation 2021 Cash Dividends Common Jan. 10 Cach Didends Preferred 4000 40000 46000 (To record common and preferred share dividends) Preferred Shares Mar. 1 480000 480000 Common Share To record conversion of shares)