A press relese contained the following announcement

A press release contained the following announcement: Castleton, Sask., April 30, 2020: Ridgeton Corporation announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per share of the Corporation's outstanding common shares, payable June 26, 2020, to shareholders of record at the close of business on June 12, 2020. This represents a reduction from the $0.42 quarterly dividend paid by the Corporation since 2018. Frederick Furter, chairman and chief executive officer, said, "In today's uncertain and challenging economic environment, we believe it is important to preserve liquidity. By lowering the dividend to $0.12 per quarter, we will reduce cash outflows by $54 million in 2020. This action will strengthen our balance sheet, improve our credit metrics, and provide greater financial flexibility." At the time of the press release, Ridgeton had 150,000,000 shares authorized and 60 million outstanding. The par value for the company's shares is $0.50 per share. Required: 1. Prepare journal entries as appropriate for each of the three dates mentioned above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not millions.) View transaction list Journal entry worksheet A press release contained the following announcement: Castleton, Sask., April 30, 2020: Ridgeton Corporation announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per share of the Corporation's outstanding common shares, payable June 26, 2020, to shareholders of record at the close of business on June 12, 2020. This represents a reduction from the $0.42 quarterly dividend paid by the Corporation since 2018. Frederick Furter, chairman and chief executive officer, said, "In today's uncertain and challenging economic environment, we believe it is important to preserve liquidity. By lowering the dividend to $0.12 per quarter, we will reduce cash outflows by $54 million in 2020. This action will strengthen our balance sheet, improve our credit metrics, and provide greater financial flexibility." At the time of the press release, Ridgeton had 150,000,000 shares authorized and 60 million outstanding. The par value for the company's shares is $0.50 per share. Required: 1. Prepare journal entries as appropriate for each of the three dates mentioned above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not millions.) View transaction list Journal entry worksheet 1 2 3 1 2 3 Record the dividends declared on April 30, Note: Enter debits before credits. 2020. Record the transaction. Debit Record the appropriate transaction on June 12, 2020. Record the transaction. Note: Enter debits before credits. Date April 30, 2020 Record entry General Journal Clear entry Credit Date June 12, 2020 Record entry General Journal Clear entry Debit View general jour Credit View general journ A press release contained the following announcement: Castleton, Sask., April 30, 2020: Ridgeton Corporation announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per share of the Corporation's outstanding common shares, payable June 26, 2020, to shareholders of record at the close of business on June 12, 2020. This represents a reduction from the $0.42 quarterly dividend paid by the Corporation since 2018. Frederick Furter, chairman and chief executive officer, said, "In today's uncertain and challenging economic environment, we believe it is important to preserve liquidity. By lowering the dividend to $0.12 per quarter, we will reduce cash outflows by $54 million in 2020. This action will strengthen our balance sheet, improve our credit metrics, and provide greater financial flexibility." At the time of the press release, Ridgeton had 150,000,000 shares authorized and 60 million outstanding. The par value for the company's shares is $0.50 per share. Required: 1. Prepare journal entries as appropriate for each of the three dates mentioned above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not millions.) View transaction list Journal entry worksheet 1 2 3 Record the dividends paid on June 26, 2020. Record the transaction. Note: Enter debits before credits. Date June 26, 2020 General Journal Debit Credit