On February 1, 2020, when there were 1,000,000 shares of $3 par value common stock outstanding and the stocks market price was $24 per share, Quincy Company declared a dividend. The record date is February 15, 2020 and the payment date is March 12, 2020.

Required

Prepare all journal entries required to account for this dividend on its declaration, record and payment dates, respectively. If no entry is required on a particular date, please so state. Use the following independent scenarios:

1. a $1.50 per-share cash dividend
2. a 10% stock dividend
3. instead of a dividend, the company chose to do a 2-for-1 stock split.