a 145 1-Dec The Board of Directors of India Star Company declared a cash dividend of $.50 per share. Dividend is payable to shareholders on December 15 Date of record is December 7 Number of $1 par common shares outstanding 25,500 146 147 148 149 INSTRUCTIONS: Prepare the journal entries to declare the dividend and then pay it. 150 151 Date Account Title Debit Credit 152 153 154 155 156 157 158 159