Monty Corp. has 8,000 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Brief Exercise 11-8 Marigold Corp. has these accounts at December 31: Common Stock, Stock, 470 shares, $10,340 12 par, 5,200 shares issued, $62,400; Paid-in Capital in Excess of Par Value $18,700; Retained Earnings $43,700; and Treasury Prepare the stockholders' equity section of the balance sheet. Marigold Corp. Balance Sheet (Partial) December 31