Hodge Corporation issued 104,000 shares of S 18 par value, cumulative, 996 preferred stock on January 1, 2016, for $2,550,000. In December 2018, Hodge declared its first dividend of $760,000 Prepare Hodge's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT If the preferred stock is not cumulative, how much of the $760,000 would be paid to common stockholders? Common Stock Dividends If the preferred stock is cumulative, how much of the $760,000 would be paid to common stockholders? Common Stock Dividends