#1 Jones Corp. has 200,000 shares of stock authorized, 120,000 shares issued, and 100,000 shares outstanding. On August 1, 2010, Jones' Board of Directors declared a cash dividend of $0.50 per share, with a date of record of September 1, 2010. The dividend will be paid on October 1, 2010. Prepare the journal entries required to record the transactions described above, as needed, and then post them to the related T- accounts: =