Foins: $0$ or $1$

Hazelnut Company earned net income of $$110,000$ during the year ended December $31,2025.$ On December $15,$ Hazelnut Company declared the annual cash dividend on its $10\%$ preferred stock $($par value, $$130,000)$ and a $$0\mathrm{.}60$ per share cash dividend on its common stock $(58,000$ shares$).$ Hazelnut Company then paid the dividends on January $4,2026.$

Requirements

Journalize for Hazelnut Company the entry declaring the cash dividends on December $15,2025.$

Journalize for Hazelnut Company the entry paying the cash dividends on January $4,2026.$

Requirement $1.$ Journalize for Hazelnut Company the entry declaring the cash dividends on December $15,2025.($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.15,2025,\backslash$table$[[$Cash Dividends$],[$Dividends Payable$-$Preferred$],[$Dividends Payable$-$Common$]],13000,],[,,,],[,,,]]$