Just need to know what the December 31 entry is! Thank you:)

Journal entry worksheet On December 31, the closing entry for dividends is recorded. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal On May 1, Year 1, Love Corporation declared a $50,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event. (Amounts to be deducted should be indicated with minus sign.) Answer is complete and correct. Income Statement - Expense - Date Assets Cash Flow Balance Sheet Liabilities + Common Stock 50,000 + 0 = + Revenue Net Income May + 0 0 0 01 Retained Earnings (50,000) o 0 0 = 0 May 15 May 31 0 0 ONA 0 NA (50,000) FA (50,000) = (50,000) 0 + 0 - 0 0