he following data relates to ABC Ltd: Profit for the year ended 30 June 20X1, $500,000. On 31 March 20X1, the directors decided to pay an interim cash dividend of $100,000. On 7 April 20X1, the interim dividend was paid. For final dividends, the companys constitution provides that the directors can recommend a dividend to be subsequently declared by a resolution of the members in a general meeting. The directors recommended a final dividend of $250,000 to be paid. The shareholders accepted the final dividend at the annual general meeting, and payment was made on 14 September 20X1. Required:

(a) Prepare journal entries to record the above dividend payments.

(b) Prepare the retained profits general ledger account. (4 marks)

pls i need the question b in more simpler form so that it's easy to understand.