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Teal Mountain Inchas the following shares outstanding 54,400 cortion and 17.700 $0.65 cumulative preferred.On December 15, the directors declared dividends of $62,715 to the shareholders af record on December 26. payable January 10. Dividends have not been paid for the last two years. Your Answer Correct Answer (Used) Your answer is incorrect. Calculate the amount of dividends payable to each af the comman shareholders and the preferred shareholders. Dividends payable to the preferred shareholders $ Dividends payable to the common shareholders $ eTextbook and Media eTextbook List of Accounts Your Answer Correct Answer X Your answer is incorrect. Prepare the required entries on each of these dates. (Credit exccountitles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec. 15 (To record declaration of dividend. (To record payment of dividends