1. Prepare the journal entry to record Tamas Companys issuance of 6,900 shares of $100 par value, 9% cumulative preferred stock for $104 cash per share.
2. 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.)

Prepare the journal entry to record Tamas Company's issuance of 6,900 shares of $100 par value, 9% cumulative preferred stocl $104 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.)