M$11-8($Algo$)$ Recording Dividends L$011-4$

On April $15$ of this year, the board of directors for Jedi Company declared a cash dividend of $62$ cents per share payable to

stockholders of record on May $20.$ The dividends will be paid on June $14.$ The company has $100,000$ shares of stock outstanding.

Prepare any necessary journal entries for each date.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the appropriate journal entry on April $15$ related to the cash dividend.

Note: Enter debits before credits.