On June 10, Sarasota Corp. declared a cash dividend of 40 cents a share on 2.4 million shares payable on July 16 to all shareholders of record on June 24. Prepare the journal entries to record the dividend. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)