E11-20 (Algo) Recording the Payment of Dividends LO11-3, 11-4 A recent annual report for Malestrom incorporated disclosed that the company declared and paid dividends on common stock in the amount of $1,80 per share. During the year, Malestrom had 1,017,000,000 authorized shares of common stock and 191,370,000 issued shares. There is no treasury stock. Required: Required: Assume Malestrom declared the entire dividend ( $1.80 per share) on February 20 and subsequently paid the dividend on March 1. Prepare the journal entries to record the declaration and payment of dividends. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0 ). Journal entry worksheet Nute: cnter aedits verore creaits. Journal entry worksheet Iwote: Enter aedits Derore creairs