Strada Controls Inc. has 100,000 shares of common stock outstanding on January 1, 2019. On May 25, 2019, the board of directors declared a semi-annual cash dividend of $1 per share of common stock. The dividend will be paid on June 26, 2019 to stockholders of record on June 7, 2019. Required: Prepare journal entries for 1. the declaration of the dividend; 2. the date of record; and 2. the payment of the dividend