QS 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry to record Tamas Company's issuance of 7,000 shares of $100 par value, 6% cumulative preferred stock for $105 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.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Tamas Company's issuance of 7,000 shares of $100 par value, 6% cumulative preferred stock for $105 cash per share. View transaction list Journal entry worksheet Record the issue of $100 par value preferred stock for $105 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal