Fowler Co.'s balance sheet showed the following at December 31, 2018:

Common stock, $10 par	$	114,000
Paid-in capital - excess of par		57,000
Retained earnings		22,800

A cash dividend is declared on December 31, 2018, and is payable on January 20, 2019, to shareholders of record on January 10, 2019. Required: 1.

• Record cash dividend declared on December 31, 2018.
• Record the entry on date of record.
• Record payment of cash dividend

2.

• Record cash dividend declared on December 31, 2018.
• Record the entry on date of record.
• Record payment of cash dividend.