Barney is a leading global manufacturer and marketer of power tools, hardware, and home improvement products. A press release contained the following announcement:

NEW BRITAIN, Conn.(BUSINESS WIRE)Feb. 18, 2014Barney (NYSE: BYC) announced today that its Board of Directors approved a regular first-quarter cash dividend of $0.50 per common share. This extends the companys record for the longest consecutive annual and quarterly dividend payments among industrial companies listed on the New York Stock Exchange. The dividend is payable on Tuesday, March 18, 2014, to shareholders of record as of the close of business on Wednesday, March 5, 2014. At the time of the press release, the company had 319 million shares authorized and 156.9 million outstanding. The par value for the companys stock is $2.50 per share.

a.) Record the declaration of a cash dividend of $0.50 per share payable on the 156.90 million shares of stock outstanding.

b.) Record the entry on the date of record for a cash dividend of $0.50 cents per share payable on the 156.90 million shares of stock outstanding.

c.) Record the payment of the cash dividend.

d.) Record the entry to close the dividends account.