A recent annual report for Malestrom Inc., disclosed that the company declared and paid dividends on common stock in the amount of $1.40 per share. During the year, Malestrom had 1,002,000,000 authorized shares of common stock and 191,220,000 issued shares. There is no treasury stock. Required Assume Malestrom declared the entire dividend ($1.40 per share) on February 20 and subsequently paid the dividend on March 1. Prepare a journal entry to record the declaration and payment of dividends. (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 not in millions (i.e., 1,000,000 not 1.0).) Journal entry worksheet 2 Record the declaration of dividends Note: Enter debits before credits. Date General Journal Debit Credit February 20 Record entry Clear entry View general journal Journal entry worksheet 2 Record payment of dividends. Note: Enter debits before credits. Date General Journal Debit Credit March 01 Record entry Clear entry View general journal