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Exercise 11-5 Hodge Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on January 1, 2016, for $2,530,000. In December 2018, Hodge declared its rst dividend of $840,000. Prepare Hodge'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 titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit VLINK To TEXTVl lrLINK To TEXTV If the preferred stock is not cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends $ lVLINK To TEXTVl lrLINK To TEXTVl If the preferred stock is cumulative, how much of the $840,000 would be paid to common stockholders? Common Stock Dividends $