Problem 26 Germanium Company showed the following balances at year-end: Wasting asset 8,000,000 Accumulated depletion 1,000,000 Share capital, P100 par 5,000,000 Capital liquidated 500,000 Retained earnings 1,200,000 The board of directors declared a dividend of P30 per share. Required: Prepare journal entry for the declaration of the dividend and the subsequent payment