Kingbird Limited is a private corporation reporting under ASPE. At December 31, 2021, its general ledger contained the following summary data:

Cost of goods sold $1,239,000 Interest expense 36,800 Interest revenue 15,400 Operating expenses 215,000 Retained earnings, January 1 546,100 Sales 1,660,000

Additional information: 1. In 2021, common share dividends of $24,900 were declared on June 30 and December 31. The dividends were paid on July 8, 2021, and January 8, 2022, respectively. 2. The company's income tax rate is 20%.

Collapse question part (a) Record the dividend transactions in 2021.