On May 1, Year 1, Love Corporation declared a $66,400 cash dividend to be paid on May 31 to shareholders of record on May 15. Required

• Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model.
• Prepare journal entries for all events associated with the dividend.

A:

B:

On May 1, Year 1, Love Corporation declared a $66,400 cash dividend to be poid on May 31 to shareholders of record on May 15. Required a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. b. Prepare joumal entries for all events associated with the dividend. Complete this question by entering your answers in the tabs below. Record the events occuming on May 1, May 15, and May 31 in a hocizontal statements model. (In the Statement of Cash Fows column, indicate whether the lkem is an (OA), investing activity (IA), or financing activity (FA). (eave biank to indicate that an element was not affected by the event, Enter amounts to be dediuted and cash minus sigo.) Prepare journal entries for all events associated with the dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 4 On May 1, Love Corporation declared a $66,400 cash dividend to be paid on May 31. Record the transaction. Note: Enter debits before credits