Frenchvanilla Company earned net income of $$95,000$ during the year ended December $31,2024.$ On December $15,$ Frenchvanilla declared the annual cash dividend on its $5\%$ preferred stock $($par value, $$125,000)$ and a $$0\mathrm{.}50$ per share cash dividend on its common stock $(62,000$ shares$).$ Frenchvanilla then paid the dividends on January $4,2025$

Read the requirements.

Requirement $1.$ Journalize for Frenchvanilla the entry declaring the cash dividends on December $15,2024($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$],[2024],[$Dec$.15],[,,,],[,,,],[,,,],[,,,]]$

Requirements

$1.$ Journalize for Frenchvanilla the entry declaring the cash dividends on December $15,2024$

$2.$ Journalize for Frenchvanilla the entry paying the cash dividends on January $4,2025$