The shareholders equity section of Yessir corporation at December 31, 2016 included the following:

$6 preferred shares cumulative,

10,000 shares authorized

8,000 shares issued $800,000

Common shares, 250,000 shares authorized,

200,000 shares issued $2,000,000

Dividends were not declared on the preferred shares in 2016 and are in arrears.

On September 15, 2017, the board of directors of yessir corporation declared on the preferred shares for 2016 and 2017, to shareholders of record on October 1, 2017, payable on October 15, 2017

On November 1, 2017, the board of directors declared a $2 per share dividend on the common shares payable November 30, 2017, to shareholders of record on November 15, 2017.

Instructions:

Prepare the journal entries that should be made by yessir corporation in 2017 on the dates indicated below.

September 15 November 1

October 1 November 15

October 15 November 30