part c

Larkspur Corporation issued 101,000 shares of $20 par value, cumulative, 9% preferred stock on January 1, 2021, for $2,510,000. In December 2023, Larkspur declared its first dividend of $740,000. (a) Your answer is correct Prepare Larkspur's journal entry to record the issuance of the preferred stock. (Credit account tities 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 O for the amounts.) eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Your anwwer is correct. If the preterred stock is not cumulative, how much of the $740,000 would be paid to common stockholders? Attempt: 2. Your answer is incorrect. If the preferred stock is cumulative, how much of the $740,000 would be paid to common stockholders? Common Stock Dividends List of Accounts