An examinationof the ledger of Fernando Corporation revealed the following balances on January 2, 2014:

Ordinary Share Capital, 30,000 shares authorized at a par value of P50 (10,000 shares issued and outstanding)	500,000
Share Premium	300,000
Retained Earnings	750,000

The following transactions occurred during the year:

Jan 10- Declared a P20 cash dividend per share to shareholders of record as of January 25

Feb 10- Paid the dividends declared on January 10

June 1- Declared a 10% scrip dividend to shareholders of record as of July 1. Dividends are to be distributed on November 1 plus 18% interest.

Nov 1- Paid for the scrip dividends

Dec 31- Net income for the year amounted to P250,000

Required:

a. Entries to records the above transactions