b. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) 02 5033 Print Import a new list On June 10, Weaver Corporation declared the annual cash dividend on its 7,000 shares of preferred stock and a $1 per share dividend for the common shareholders. 1 n its ommon The shareholders on record on June 20 will receive a dividend payment to be paid July 1. 2 3 On July 1, the are paid to the shareholders of record on June 20. 4 On December 31, the closing entry for dividends is recorded