Preferred Dividends Nathan Products' equity includes 10.8%, $100 par preferred stock. There are 100,000 shares authorized and 28,000 shares outstanding. Assume that Nathan Products declares and pays preferred dividends quarterly. Required: Question Content Area 1. Prepare the journal entry to record declaration of one quarterly dividend. If an amount box does not require an entry, leave it blank. blank - Select - - Select - Question Content Area 2. Prepare the journal entry to record payment of the one quarterly dividend. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select -