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  3. a recent annual report for sears, roebuck and co.

A recent annual report for Sears, Roebuck and Co. disclosed that the company paid preferred...

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Accounting

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A recent annual report for Sears, Roebuck and Co. disclosed that the company paid preferred dividends in the amount of $136.9 million. It declared and paid dividends on common stock in the amount of $3 per share. During the year, Sears had 1,001,700,000 shares of common authorized; 387,674,300 shares had been issued, 41,810,000 shares were in treasury stock. Assume that the transaction occurred on July 15 Required Prepare a journal entry to record the declaration and payment of dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).) View transaction list Journal entry worksheet 2 Record the declaration and payment of preferred dividends. Note: Enter debits before credits. Date General Journal Debit Credit July 15 Record entry Clear entry View general journal

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