Dividend to common stockholders Requirement 2. Record the journal entries for 2018 assuming that Sacchetti Marketing Corp. declared the dividends on July 1 for stoc Sacchetti paid the dividends on July 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry talb select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jul. 1,2018: Declared dividend. Date Accounts and Explanation Debit Credit Jul. 1 Cash Dividends 170000 Dividends Payable-Common Declared a cash dividend l entries for 2018 assuming that Sacchetti Marketing Corp. declared the dividends on July 1 for stoc uly 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry tab first line of the Accounts and Explanation column and leave the remaining cells blank.) Accounts and Explanation Debit Credit Requirements le le 1. Compute the dividends to the preferred and common shareholders for 2018 if total dividends are $170,000 and assuming the preferred stock is noncumulative. Assume no changes in preferred and common stock in 2018 di 2. Record the journal entries for 2018 assuming that Sacchetti Marketing Corp declared the dividends on July 1 for stockholders of record on July 15. Sacchetti paid the dividends on July 31 Print Done Data Table Stockholders' Equity Paid-In Capital: Preferred Stock-5%, $2 Par Value:120,000 shares authorized, 75,000 shares issued and outstanding Common Stock-$0.10 Par Value; 11,250,000 shares 150,000 authorized, 10,500,000 shares issued and outstanding 1,050,000 Print Done