Johnson, Inc. is a company located in Atlanta. During its current fiscal year, ended December $31,$ Johnson completed the following selected transactions:

May $1.$ Declared a semiannual dividend of $$1$ on the $10,000$ shares of preferred stock and a $$0\mathrm{.}30$ dividend on the common stock $(37,500$ shares$)$ to stockholders of record on May $31,$ payable on June $15.$

June $15.$Paid the cash dividends.

Journalize the entries to record the transactions for Johnson, Inc.