4. Cash dividends: on november 9, the board of directors of a company with 5,000 common shares outstanding declared a $1 per share dividend payable December 1 to the shareholders of record on November 22. On November 9, the date of declaration, what would be the journal entries? Give 2 options. (i) what journal entry is required on the date of record? (ii) what journal entry is required on December 1, the date of payment? (iii) on december 31, the corporation's year end, what will be the closing entry? (iv) what closing entry would be necessary if the retained earnings account was debited on the date of declaration