Hello! I really need help with these journal entries in my accounting class. Here is the information to go with the journal entries. I will make sure to thumbs up anyone that helps me out! Thank you so much! $5$

On April $3,$ Southwind's board of directors declares a cash dividend of $\backslash$$$250,000$ payable on April $30$ to the April $21$ stockholders of record.

a Prepare the entry on April $3$ to record the declaration of the dividend. Use Common Stock Dividends Payable and Preferred Stock Dividends Payable accounts to show

the allocation to common and preferred shareholders.

Southwind holds a patent for a floating dock stabilizer that has a carrying value of $\backslash (\backslash$$ $240,000\backslash )$ at July $1,2027.$ Southwind filed suit against a competitor for patent infringement in $2025$ and on July $1,2027,$ unexpectedly won the suit. Unrecovered legal fees totaled $\backslash (\backslash$$ $40,000\backslash ).$ The patent has a remaining useful life as of that date of $4$ years.

a Prepare the entry to record payment of the legal fees.

$7$ On Sept $30,$ Southwind issued a one$-$year, zero$-$interest bearing note with a face amount of $\backslash (\backslash$$ $100,000\backslash )$ and an implicit interest rate of $\backslash (7\backslash \%\backslash ).$ Southwind will amortize the discount using the straight$-$line method since this is a short$-$term note.

a Calculate the proceeds of the note

b Prepare the entry to record payment of the issuance of the note.

$8$ In November, Southwind began offering giftcards. The company collected $\backslash (\backslash$$ $125,400\backslash )$ from the sale of giftcards during November. Ten percent of the cards were redeemed in December. Based on industry information, Southwind expects $\backslash (60\backslash \%\backslash )$ of the giftcards to be

a Prepare the entry to record the sale of the giftcards.

b Calculate the breakage revenue to be recognized when the giftcards are redeemed in December

c Prepare the entry to record the redemption of the giftcards in December $($ignore cost of goods sold$).$

Part $2$: At December $31,2027,$ Southwind prepares adjusting entries.

$9$

On December $31,$ Southwind evaluated the financial position of its Westwind division and determined that the division's fair value is $\backslash (\backslash$$ $3,600,000\backslash ).$ At that date, Westwind's net assets, including any goodwill, were $\backslash (\backslash$$ $4,150,000\backslash ).$

a Test for goodwill impairment

b Prepare the adjusting entry to record goodwill impairment if necessary.

One of Southwind's stores recorded sales together with the related sales tax for a lump sum of $\backslash (\backslash$$ $34,125\backslash ).$ The sales tax rate is $\backslash (5\backslash \%\backslash ).$

a Calculate the sales tax owed.

b Prepare the adjusting entry to reclassify the sales tax owed to a liability account.