Earlgrey Company camed net income of $110.000 during the year ended December 31, 2018 On December 15, Earlgrey declared the annual cash dividend on its 5% preferred stock (par value, 5130,000) and a 5100 per share cash dividend on its common stock (45,000 shares) Earlgrey then paid the dividends on January 4 2019 Read the reguitement Requirement 1. Journalize for Earlgrey the entry declaring the cash dividends on December 15, 2018. (Record debts first, then credits. Bu sore to record separate accounts payable for each type of stock and include the type of stock in the account names where applicable. Select the explanation on the last line of the Journal entry table. Check your spelling carefully and do not abbrevias.) Date Accounts and Explanation Debit Credit 2018 Dec 15 Cash Dividend