I don't understand this. Could I please get help ASAP ?

Tent & Tarp Corporation is a manufacturer of outdoor camping equipment. The company was

incorporated ten years ago.

It is authorized to issue 50,000 shares of $10 par value 5% preferred stock. It is also authorized to

issue 500,000 shares of $1 par value common stock.

It has issued 5,000 common shares and 2,000 of the preferred shares.

The corporation has never declared a dividend and the preferred shares are one years in arrears.

Tent & Tarp has the following transactions:

Mar. 1

Declares a cash dividend of $10,000

Mar. 30

Pays the cash dividend

Journalize these transactions for March 1st and March 30th.

D Question 2 15 pts Tent & Tarp Corporation is a manufacturer of outdoor camping equipment. The company was incorporated ten years ago. It is authorized to issue 50.000 shares of $10 par value 5% preferred stock. It is also authorized to issue 500.000 shares of $1 par value common stock. It has issued 5,000 common shares and 2,000 of the preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Tent & Tarp has the following transactions: Mar. 1 Declares a cash dividend of $10,000 Mar. 30 Pays the cash dividend Joumalize these transactions for March 1st and March 30th