Corporations and Dividends

Zeus Ltd declared a final dividend to its shareholders at the Annual General Meeting on

$31\mathrm{.}12\mathrm{.}2017$ of $$1,200,000.$

The amount was finally paid on $31\mathrm{.}3\mathrm{.}2018.$

Required:

Prepare the Journal Entries for the declaration and distribution of the dividends in $2017$ and

$(10$ marks$)$