National Chocolate Corp. produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information:

March 5National Chocolate Corp. today announced that its Board of Directors has declared a special one-time cash dividend of $1.10 per share on its 107,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record at the close of business on March 26. The Company's fiscal year will end April 30.

Required:

1.

Prepare any journal entries that National Chocolate Corp. should make on the four dates mentioned in press release. (If no entry is required for a transaction/date, select "No Journal Entry Required" in the first account field.) 1.Record the declaration of a cash dividend of $1.10 per share payable on the 107,000 shares of common stock outstanding. 2.Record the entry on the date of record. 3.Record the payment of the cash dividend. 4.Record the entry to close dividends account.