Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1.54,000 shares of $6 par common stock. 2.5,000 shares of $140 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $5 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. Total dividend $ 312,000 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 View journal entry worksheet Total dividend $ 312.000 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 View journal entry worksheet MO General Joumi - Credit Are 10 Debit 312.000 Dividende Dividends payable 312.000 June 20 Nombre July 01 Dividend pay December 31 No Transaction Recorded