On November 1, 2020, Wilman Inc. declared $212,000 of dividends payable to shareholders on December 3, 2020. There are 17,100 common shares and 6,400, $4 cumulative preferred shares. Dividends were last paid in 2017. Write the journal entry to record the declaration and subsequent payout of the dividends. Wilman Inc. uses the cash dividends account to record dividends. Do not enter dollar signs or commas in the input boxes. For transactions that have 2 debits or credits, enter the accounts in alphabetical order Date: Nov 1 Account Title and Explanation Debit O 0 Record dividend payable Dec 3 0 Record payment of dividend Credit