Current Attempt in Progress

Sage Hill Inc. has the following shares outstanding: 47,000 common and 21,200 $0.80 cumulative preferred. On December 15, the directors declared dividends of $76,730 to the shareholders of record on December 28, payable January 10. Dividends have not been paid for the last two years.

Calculate the amount of dividends payable to each of the common shareholders and the preferred shareholders.

Dividends payable to the preferred shareholders		$enter a dollar amount
Dividends payable to the common shareholders		$enter a dollar amount

List of Accounts

Prepare the required entries on each of these dates. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 15	enter an account title to record declaration of dividend on December 15	enter a debit amount	enter a credit amount
	enter an account title to record declaration of dividend on December 15	enter a debit amount	enter a credit amount
	enter an account title to record declaration of dividend on December 15	enter a debit amount	enter a credit amount
	(To record declaration of dividend.)
choose a transaction date Jan. 10Dec. 15Dec. 28	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 10Dec. 15Dec. 28	enter an account title to record payment of dividends	enter a debit amount	enter a credit amount
	enter an account title to record payment of dividends	enter a debit amount	enter a credit amount
	(To record payment of dividends.)