Prepare the journal entry to record Tamas Company's issuance of $6,600$ shares of $$100$ par value, $6\%$ cumulative preferred stock for $$106$ cash per share.

Assuming the facts in part $1,$ if Tamas declares a year$-$end cash dividend, what is the amount of dividend paid to preferred shareholders? $($Assume no dividends in arrears.$)$

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Required $1$

Required $2$

Prepare the journal entry to record Tamas Company's issuance of $6,600$ shanes of $$100$ par value, $6\%$ cumulative preferred stock for $$106$ cash per share.

Journal entry worksheet

A

Record the issuance of $6,600$ shares of $$100$ par value, $6\%$ cumulative preferred stock for $$106$ cash per share.

Theter Ente delite tefore credis:

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,]]$