Carla Vista Mining Co$.$ has retained earnings of $$1,456,000,$ accumulated depletion on its one mine of $$2,250,000,$ and paid$-$in capital

in excess of par of $$4,147,000.$ Carla Vista' board of directors approves a liquidating dividend of $$3\mathrm{.}40$ per share on its $497,000$ shares

of outstanding stock.

Create the journal entry for the payment of the liquidating dividend. $($Credit account titles are automatically indented when the amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $O$ for the amounts. List debit entry

before credit entry.$)$

Account Titles and Explanation

Credit