On May 20, the board of directors for Auction.com declared a cash dividend of 50 cents per share payable to stockholders of record July 31. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet Record the entry on the date of declaration for a cash dividend of 50 cents per share payable on the 502,000 shares of stock outstanding Note: Enter Date General Journal Debit Credit May 20 Record entry Clear enty View gnral joumal Journal entry worksheet Record the entry on the date of record for a cash dividend of 50 cents per share payable on the 502,000 shares of stock outstanding. Note: Enter cebits befcre Date General Journal Debit Credit June 14 Record entry Clear enty View gnral joumal Journal entry worksheet Record the entry on the date of payment for the cash dividend Note: Enter cebits before crecits. Debit Credit Date General Journal July 14 Record entry Clear enty View genral joumal Journal entry worksheet Record the entry to close the dividend account to retained earnings. Note: Enter devis before cred Date General Journal Debit Credit Record entry Clear enty View general journal