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Company earned net income of $ 110 comma 000 during the year ended December ​31, 2018...

Company earned net income of $ 110 comma 000 during the year ended December ​31, 2018 . On December ​15, Whitetea declared the annual cash dividend on its 6 ​% preferred stock​ (par value, $ 118 comma 000 ​) and a ​$1.00 per share cash dividend on its common stock left parenthesis 45 comma 000 ​shares). Whitetea then paid the dividends on January ​4, 2019 .

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solution Journal Entries 1) Journalizing for the entry declaring the cash dividends on December 15, 2018 Date Account TitlesExplanations D preferred stock Dividena - 6 t par value -6.1:* $ 118,000 =$7,080 a 2) Common Stocks 2 Dividend dividend per

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