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Frenchroast Cornpany eamed net income of $102,000 during the year ended December 31, 2024. On December 15, Frenchroast declared the annual cash dividend on its 5% preferred stock (par value, $125,000 ) and a 50.50 per share cast dividend on its common stock (65,000 shares) Frenchroast then paid the dividends on January 4,2025 Read the requinements Requirement 1. Journalize for Frenchroast the entry dedaring the cash dividends on December 15, 2024, Record dobits first, then credits Select the explanation on the last line of the joumal entry table) Requirement 2. Journafere for Frenchroast the entry poying the cash dividends on January 4, 2025. Record debits fist then credits Select the explanation on the tast line of the Hournal entrv tabis? Requirement 2. Journalice for Frenchroast the entry parying the cash dividends on January 4, 2025. (Record debits first, then credits. Select the axpianation on the last line of the foumal entry table)