On January 1 , Icecap had 8,700 shares of $2 par common stock issued and outstanding. The following transactions occurred during the year. April 15: Declared a cash dividend of $0.65 per share to stockholders of record on May 31. July 10: Paid the $0.65 cash dividend. A. Prepare the entry to declare the dividends. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)