Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 91,000 shares of $5 par common stock. 2. 8,000 shares of $140 par, 5 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 8,000 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. b. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 . On June 10, Weaver Corporation declared the annual cash dividend on its 8,000 shares of preferred stock and a $2 per share dividend for the common shareholders. Note: Enter debits before credits. General Journal Debit Credit Date June 101 Record entry Clear entry View general journal Journal entry worksheet 3 4 The shareholders on record on June 20 will receive a dividend payment to be paid July 1. Note: Enter debits before credits. Date General Journal Debit Credit June 20 Record entry Clear entry View general journal Journal entry worksheet