On April 15 of this year, the board of directors for Captiva Company declared a cash dividend of 47 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company has 102,000 shares of stock outstanding. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)