On May 20 , the board of directors for Auction com declared a cash dividend of 50 cents per share payable to stockholders of record on June 14. The dividends are pald on July 14 . The company has 500,000 shares of stock outstanding. Closing entries are recorded on July 31. Prepare any necessary journal entrles for each date. (If no entry is required for a transaction/event, select "No Journail Entry Required" in the first account field) Journal entry worksheet 4 Record the entry on the date of declaration for a cash dividend of 50 cents per share payable on the 500,000 shares of stock outstanding. Notes inter sebits before creens