Flower Enterprises earned net income of $60,000 during the year ended December 31, 2018. On December 15, 2018, Flower Enterprises declared the annual cash dividend on its 10 percent preferred stock (total par value, $135.000) and a $0.50 per share cash dividend on its common stock (45,000 shares outstanding). Flower Enterprises then paid the dividends on January 4, 2019. Read the man a. Journalize the declaration of the cash dividends on December 15, 2018. (Prepare a single compound entry. For purposes of this problem use a single account to report the dividends and not separate accounts for dividends on common stock versus dividends on preferred stock Record debits first, then credits Exclude explanations from any journal entries) Date Journal Entry Accounts Dec 15 Accounts payable Debit Credit b. Joumalize the payment of the cash dividends on January 4, 2019 (Record debts first, then credits. Exclude explanations from any joumal entries.)