Record the entry for the declaration of dividends ( not payment) for each of the four separate scenarios.

1. On April 1, 2020 Apex Corporation declared a cash dividend of $5.00 per share on its 32,000 outstanding shares of common stock ($1 par). The dividend is payable on April 21, 2018, to stockholders of record on April 20, 2018.
2. Axe Co. has issued and outstanding 1,000 shares of $100 par, cumulative, 5% preferred stock and 20,000 shares of $5 par common share. Dividends are in arrears for the past year (not including the current year). On December 15, 2018, the board of directors of Axe Co. declared dividends of $25,000 to be paid to shareholders at the end of its fiscal year. Use two separate liability accounts one for Common Stock and one for Preferred Stock.
3. SAX Corp. holds 1,000 shares of Mobile Co. common stock, purchased at the beginning of the year for $30 per share (carrying value on February 1,2018). On February 1, 2020, SAX Corp. declared a property dividend of 450 shares of Mobile Co. common stock when the shares were selling at $28 per share. (Two journal entries required)
4. Trunk Corporation declared a common stock dividend of $45,000 on April 1, 2020. Trunk Corporation announced to shareholders that 70% of the dividend amount was a return of capital.