On January $1,$ Crane Corporation had $100,000$ shares of no$-$par common stock issued. $5,400$ shares are held as treasury stock. The

stock has a stated value of $$5$ per share. During the year, the following occurred.

Apr. $1$ Issued $13,000$ additional shares of common stock for $$18$ per share.

June $15$ Declared a cash dividend of $$1$ per share to stockholders of record on June $30.$

July $10$ Paid the $$1$ cash dividend.

Dec. $1$ Purchased $3,000$ additional shares of common stock for $$17$ per share.

$15$ Declared a cash dividend of $$1\mathrm{.}20$ per share to stockholders of record on December $31.$

$($a$)$

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Prepare the entries, if any, on each of the three dividend dates. $($Record journal entries in the order presented in the problem. List all

debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date

Account Titles and Explanation

Cash Dividends

Common Stock

Dividends Payable

Cash

Cash Dividends

Dividends Payable

Debit

Credit

Credit

$139,200$

Attempts: $1$ of $1$ used

$($b$)$

How are dividends and dividends payable reported in the financial statements prepared at December $31?$

Dividends of $

will be

in the