Please answer all parts correctyl i want to make sure i have a better understanding. thank you .

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 paid on July 14. The company has 508,000 shares of stock outstanding. Closing entries are recorded on 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 > 2 Record the entry on the date of payment for the cash dividend, Note: Enter debits before credits. Debit General Journal Date Credit July 14 Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 3 4 OK Record the entry to close the dividend account to retained earnings. ences Note: Enter debits before credits Debit Credit Date General Journal July 31 Record entry Clear entry View general Journal