On May $1,2023,$ their first day of operations, Nutty's Oil, Inc. issues $2,000$ shares of $$4$ par value common stock for $$6$ cash per share.

On May $15,2023,$ Nutty's Oil, Inc. issues $5,000$ shares of $$4$ part value common stock for $$7$ cash per share.

On May $31,2023,$ Nutty's Board of Directors declares a dividend of $$0\mathrm{.}35$ per share to be paid on June $15,2023$ to all shareholders of records as of June $7,2023.$

Prepare the journal entry as of the Date of Declaration.

DR:

CR: