CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-5 Monty Corporation issued 112,000 shares of $20 par value, cumulative, 8% preferred stock on January 1, 2018, for $2,700,000. In December 2020, Monty declared its first dividend of $840,000. Prepare Monty's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit I SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT If the preferred stock is not cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends If the preferred stock is not cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT If the preferred stock is cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends $ Click if you would like to Show Work for this question: Open Show Work