July 15 Declared a cash dividend payable to common stockholders of $175,000.

August 15 Date of record is August 15 for the cash dividend declared on July 15.

August 31 Paid the dividend declared on July 15.

1. Record the declaration of a cash dividend payable to common stockholders.

1. 2. Record the entry on the date of record for the cash dividend of $175,000.

1. 3. Record the payment of cash dividend.