Kiki Company has the following two types of stock:

1. 10,000 shares of 10% cumulative preferred stock with a $30 par value.
2. 45,000 shares of common stock with a $1 par value.

Kiki Company declared a $75,000 cash dividend.

Make the necessary journal entry (or entries) to record this event.

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Dividends, PS _____________

Divdends, CS _____________

Dividends Payable _______________

* Please include some kind of work to show how to find the divdend amounts given the info.