Massawippi Co. has 11 million authorized common shares. The company has issued 4.4 million but due to some share repurchases and cancellations, only 4.2 million were outstanding at the beginning of 2020. Massawippi pays dividends of $0.24 per quarter on March 31, June 30, September 30, and December 31 each year. The dividends are declared at the monthly board meeting in the same month that they are paid. The board meets on the 1st of each month. The date of record is the 15th of the month and the shares trade ex-dividend on the 13th. Prepare all journal entries, including dates, related to the dividends for Massawippi for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account and explanation Debit Credit March 1 Dividends Payable Dividends Payable Cash Dividends Payable Dividends Payable Cash Cash