S13-7 Accounting for cash dividends Java Company earned net income of $85,000 during the year ended December 2018. On December 15, Java declared the annual cash dividend on its 400 pref stock (par value, $120,000) and a $0.25 per share cash dividend on its co (50,000 shares). Java then paid the dividends on January 4, 2019. 3 1 Requirements 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. 2. Journalize for Java the entry paying the cash dividends on January 4,2019