Pharoah Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on January 1, 2018, for $2,530,000. In December 2020, Pharoah declared its first dividend of $840,000. (a) Your answer is correct. Prepare Pharoah's journal entry to record the issuance of the preferred stock. (Credit account titles 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.) Account Titles and Explanation Debit Credit Cash 2,530,000 Preferred Stock 2,223, Paid-in Capital in Excess of Par-Preferred Stc 307,6 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Your answer is correct. If the preferred stock is not cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends $ 684,390 e Textbook and Media List of Accounts Attempts: 1 of 3 used (c) If the preferred stock is cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends $ e Textbook and Media