prepwre oriole's journal enty to record the issurance of the preffered stock

Orible Corporation issued 10k,000 thares of $20 par value, cumulative. 7\% prefetred stock en January 1, 2028, for 52.540,000, in December 2020, Oriole dectared its first dividend of 5700,000 Prepare Orloles journal entry to fecord the issuance of the preferred stock. fCredit occount tities are automatically indented when amount is eatered. Do not indent manually. If no entry is reauired. select "No Entry" for the account titles and enter 0 for the amounts.] If the preferred stock is not cumulative, how much of the $700,000 would be paid to common stockholders? Comman Stock Divdends eTextbook and Media List of Accounts If the preferced stock is cumulative, how much of the $700,000 would be paid to common stockhoiders? Common Stock Dividends