E11-16 Before preparing financial statements for the current year the chief acco

E11-16 Before preparing financial statements for the current year the chief accountant for Springer Company discovered the following errors in the accounts.The declaration and payment of $50000 cash dividend was recorded as a debit to Interest Expense $50000 and a credit to Cash $50000.A 10% stock dividend (1000 shares) was declared on the $10 par value stock when the market value per share was $16. The only entry made was: Retained Earnings (Dr.) $10000 and Dividend Payable (Cr.) $10000. The shares have not been issued.A 4-for-1 stock split involving the issue of 400000 shares of $5 par value common stock for 100000 shares of $20 par value common stock was recorded as a debit to Retained Earnings $2000000 and a credit to Common Stock $2000000.Prepare the correcting entries at December 31. (For multiple debit/credit entries list amounts from largest to smallest e.g. 10 5 3 2.)