(a) The shareholders of MLC Limited, a company that prepares its financial statements to 31 December each year, approved a dividend of 6 cent per share on 28 December 2017, but this was not paid until 23 January 2018.

(b) The Board of Directors of JBSM Limited, a company that prepares its financial statements to 31 December each year, proposed a dividend of 5 cent per share on 15 December 2017.

The AGM is scheduled for 13 January 2018.

Requirement Explain the appropriate accounting treatment for

(a) and

(b) in respect of their financial statements for the year ended 31 December 2017.