Park Place Co. has the following shares of stock outstanding. 5,000 shares of $1 par value common stock 1,500 shares of $100 par value 8% cumulative preferred stock. In their first year of operations, Park Place declares a dividend of $10,000.

Prepare Park Place's journal entry on the Date of Declaration.

DR: Retained Earnings

CR: Dividends Payable

Prepare Park Placey's journal entry on the Date of Payment.

DR: Dividends Payable

CR: Cash

What do we call the other date that is significant to the dividend process but for which there is not accounting journal entry?