Recording the sale of Preferred Stock (par value = $100) 1) Record the sale of 1,000 shores of 4% Preferred Stock at $105 per share ($105,000) Debit Credit Recording the declaring of a dividend of $15,000 ASSUME that the company has a profit of $25,000 (ne Income Summary account and declares a dividend 2) Record the entry to declare a $15oo dividend Debat Credit Recording the payment of a dividend of $15.000 3) Record the entry to pay the $15.000 dividend Dabi Crede Assets Liabilities Equity Revenue Expense Accts Payable Sales Revenge Cost Of Goods Sold Cosch 12.000 50.000 100 000 Common Stock 10 Per 10 000 10 000 10 000 Common Stock Poid De Capite 2000 40.000 0 000 ACE Recebe Wages Payone Preferred T - Dividend Treas Stock DOO esc F2 F3 Debat Credi Liabilities Equity Revenue Expense Acts Sales Revenue Cast of Self 12 000 50 000 300.000 Common Stock (10) 10 000 90.000 30,000 Common Stock Powd. Capital E. Ecofor 2000 40 000 0 000 Was Wage Preferred Po E Canal Fan offer Deprecede Acc Deres Sale of rewary Stack Corskridende Preferredvidende cm 25.000 Preferred T - Dividend Tres Stock 38 998 COD esc F2 53 $ 4 % 5 & 7 9 8 6 2 3