Sunland Developments is authorized to issue 500,000 shares. To date, the company has 179,200 shares issued and 147,100 outstanding. Sunland is considering declaring a dividend to its common shareholders. Management is recommending that the board of directors consider the following options at the next meeting, scheduled for March 1: 1. The board of directors should approve a motion directing the company to pay a dividend of $0.40 per share on May 1 to shareholders of record on April 15; or 2. The board should approve a motion directing the company to declare a 10% stock dividend. Sunland would distribute 1 common share for every 10 common shares currently held. The company's common shares are currently selling for $53 per share. (a) Prepare any necessary journal entries for the cash dividend on March 1, April 15, and May 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)