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What would the paid dividends and retained earnings be for the below journal? GENERAL JOURNAL Date Accounts Debits Credits Dec. 1, 2022 Cash (110,000 *

What would the paid dividends and retained earnings be for the below journal?

GENERAL JOURNAL
Date Accounts Debits Credits
Dec. 1, 2022 Cash (110,000 * $11) $1,210,000
Common Stock (110,000 * $4) $440,000
Additional Paid-in Capital - Common Stock $770,000
Issued common stock
Dec. 5, 2022 Cash (1,200 * $175) $210,000
Preferred Stock (1,200 * $80) $96,000
Additional Paid-in Capital - Preferred Stock $114,000
Issued preferred stock
Dec. 11, 2022 Cash (45,000 * $16) $720,000
Common Stock (45,000 * $4) $180,000
Additional Paid-in Capital - Common Stock $540,000
Issued common stock
Dec. 14, 2022 Retained Earnings $110,000
Dividends Payable - Preferred Stock (1,200 * $80 * 4%) $3,840
Dividends Payable - Common Stock $106,160
Declared dividend
Dec. 22, 2022 No entry
Date of Record
Dec. 31, 2022 Dividends Payable - Preferred Stock (1,200 * $80 * 4%) $3,840
Dividends Payable - Common Stock $106,160
Cash $110,000
Paid Dividends

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