Please help with Part (C)

Swifty Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,300 shares of $50 par value preferred stock and 140,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,400; 2022, $11,000; and 2023, $27,400. (b) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 Total dividend ta 5400 11000 27400 Allocation to preferred stock 5400 8400 6900 Remainder to common stock $ 0 ta 2600 $ 20500 (c) Journalize the declaration of the cash dividend at December 31, 2023, under part (b). (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.) Date Account Titles and Explanation Debit Credit Dec. 31