QS 11-6 (Algo) Accounting for cash dividends LO P2\ Prepare journal entries to record the following transactions for Emerson Corporation.\ \ Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.\ \ July 15 Declared a cash dividend payable to common stockholders of $179,000.\ August 15 Date of record is August 15 for the cash dividend declared on July 15.\ August 31 Paid the dividend declared on July 15.