Rhonda Martin organized the Millennium Corporation early in $2012.$ On January $9,$ the corporation issued to Ms$.$ Martin and other investors $50,000$ of its unlimited authorized common shares of stock at a price of $$18$ per share. They also issued $20,000$ of its unlimited preferred shares at a price of $$25$ per share.

During their first quarter the company made a net income of $$42,000.$ As a result, on June $15,2012$ the board of directors declared a cash dividend of $$0\mathrm{.}15$ per common share, payable July $1,2012$ in addition to preferred share dividends of $$0\mathrm{.}50$ per share.

$1.$ Prepare the journal entries to record the following:

$($a$)$ the issuance of the common stock

$($b$)$ the issuance of the preferred stock

$($c$)$ the declaration of the dividend on June $15.$

$($d$)$ the payment of the dividend on July $1.$