Question

Compute the following journal entries: Declared and paid cash dividends to common shareholders, $6,000. Declared and...

Compute the following journal entries:

Declared and paid cash dividends to common shareholders, $6,000.
Declared and paid cash dividends to preferred shareholders, $2,000.
Wrote off $1,450 of uncollectible accounts receivable.
Sold equipment having an original cost of $30,000, and accumulated depreciation of $5,000 for $27,000 cash.

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