Hodge Corporation issued 117,000 shares of $18 par value, cumulative, 8% preferred stock on January 1, 2014, for $2,682,000. In December 2016, Hodge declared its first dividend of $833,300.

Prepare Hodges 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

If the preferred stock is not cumulative, how much of the $833,300 would be paid to common stockholders?

Common Stock Dividends $

SHOW LIST OF ACCOUNTS LINK TO TEXT

If the preferred stock is cumulative, how much of the $833,300 would be paid to common stockholders?

Common Stock Dividends $