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Earlgrey Company earned net income of $110.000 during the year ended December 31, 2018. On December 15. Eartgrey declared the annual cash dividend on its 5% preferred stock (par value, 5130,000) and a $1.00 per share cash dividend on its common stock (45,000 shares) Earlgrey then paid the dividends on January 4 2019 Read the requirements Requirement 1. Joumalize for Earlgrey the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credito. Be sure to record separate accounts payable for each type of stock and include the type of stock in the account names where applicable. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate) Date Accounts and Explanation Debit Credit 2018 Dec. 15 cash dividond 51.500 dividends payable-preferred stock 6.500 dividends payable-common stock 45.000 Declared a cash dividend Requirement 2. Journalize for Earlgrey the entry paying the cash dividends on January 4, 2019. Record debits first then credits Be sure to record separate accounts payable for each type of stock and include the type of stock in the account names where applicable. Select the explanation on the last line of the Jumal entry table. Check your speling carefully and do not abbreviate Earlgrey Company earned net income of $110,000 during the year ended December 31, 2018 On December 15. Earlgrey declared the annual cash dividend on its 5% preferred stock (par value, $130,000) and a $1.00 por share canh dividend on its common stock (45,000 shares) Earlgrey then paid the dividends on January 4 2019 Read the requirements VIVIVUVID paydURLUTIR BARA NUVVU Declared a cash dividend Requirement 2. Journalize for Eartgrey the entry paying the cash dividends on January 4, 2019 (Record debits first, then credits Be sure to record separato accounts payable for each type of stock and include the type of stock in the account names where applicable. Select the explanation on the last line of the journal entry table. Check your speling carefully and do not abbreviate.) Date Accounts and Explanation Debit Credit 2019 Jan 4 Hein me solve this Demodocs example Get more help Clear all Check