Please answer question #5, SHOWING ALL WORK ACCORDINGLY. Thank you!

Sheffield Corp. has 8,600 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit