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The stockholders' equity section of Echota Corporation at December 31, 2016, included the following: 5% preferred stock, $100 par value, cumulative, 10,000 shares authorized, 8,000

The stockholders' equity section of Echota Corporation at December 31, 2016, included the following:

5% preferred stock, $100 par value, cumulative, 10,000 shares authorized, 8,000 shares issued and outstanding $800,000
Common stock, $10 par value, 250,000 shares authorized, 200,000 shares issued and outstanding $2,000,000

Dividends were not declared on the preferred stock in 2016 and are in arrears. On September 15, 2017, the board of directors of Echota Corporation declared dividends on the preferred stock for 2016 and 2017, to stockholders of record on October 1, 2017, payable on October 15, 2017. On November 1, 2017, the board of directors declared a $.75 per share dividend on the common stock, payable November 30, 2017, to stockholders of record on November 15, 2017. Prepare the journal entries that should be made by Echota Corporation on the dates indicated below:

September 15, 2017 November 1, 2017
October 1, 2017 November 15, 2017
October 15, 2017 November 30, 2017

(If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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Date Account Titles and Explanation Debit Credit 10/15/17 11/30/17

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