Tent & Tarp Corporation is a manufacturer of outdoor camping equipment. The company

was incorporated ten years ago.

It is authorized to issue $50,000$ shares of $$10$ par value $5\%$ preferred stock. It is also

authorized to issue $500,000$ shares of $$1$ par value common stock.

It has issued $5,000$ common shares and $2,000$ of the preferred shares.

The corporation has never declared a dividend and the preferred shares are one years in arrears.

Tent & Tarp has the following transactions:

Mar. $1$ Declares a cash dividend of $$10,000$

Mar. $30$ Pays the cash dividend

Journalize these transactions for March $1$st and March $30$th$.$