Matrix Human Resources has the following information regarding its preferred and common shares:

Preferred shares, $$50$ stated value, $10\%$ cumulative; unlimited shares authorized; $100,000$ shares issued and outstanding

Common shares, no par; unlimited shares authorized; $800,000$ shares issued and outstanding

As at December $31,2023,$ Metzler was two years in arrears on its dividends. During $2023,$ Metzler declared and paid dividends. As a result, the common shareholders received dividends of $$0\mathrm{.}60$ per share.

Required:

$1.$ What was the total amount of dividends declared and paid?

$2.$ What journal entry was made at the date of declaration?