JetNew has the follow share outstanding since their initial share offering: 20,000 shares of $3.00 cumulative preferred shares 60,000 common shares issued at $8 each The board of directors has declared the following dividends:

2013 none

2014 $50,000

2015 $80,000

2016 $150,000

2017 $260,000

What would the journal entry have looked like on the date of declaration for each year?