Question3 Swifty Corporation issued 116,000 shares of $20 par value, curnulative, 6% preferred stock an Januery 1, 2019, for $2,610,000. In Decerber 2021, Swifty declared its first dividend of $720,000. Prepare Switty's journal entry to record the issuance of the preferred stock. (Credit account titles are automaticaly Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT If the preferred stock is not cumulative, how much of the S720,000 would be paid to common stockholders? Common Stork Dividends LINK TO TEXT LINK TO TEXT the preferred stock is cumulative, how much or re $720,000 would be paid to common stockholders? Common Stock Dividends Click if you would like to Show Work for this