Sweets for Your Sweetie produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information: March 5-Sweets for Your Sweetie today announced that its Board of Directors has declared a special "one-time" cash dividend of $0.80 per share on its 110,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record at the close of business on March 26. The Company's fiscal year will end April 30. Required: 1. Prepare any journal entries that Sweets for Your Sweetie should make on the four dates mentioned in the press release. 2. What would the board of directors have considered before making the dividend decisions? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare any journal entries that Sweets for Your Sweetie should make on the four dates mentioned in the press release. (If no entry is required for a transaction/date, select "No Journal Entry Required" in the first account field.) View transaction list t < Prev 7 of 8 Next > Journal entry worksheet 1 2 3 4 Record the declaration of a cash dividend of $0.80 per share payable on the 110,000 shares of common stock outstanding. Note: Enter debits before credits. Date March 05 General Journal Debit Credit Record entry Clear entry View general journal < Prev 7 of 8 Next > Journal entry worksheet < 1 2 3 4 Record the entry on the date of record. Note: Enter debits before credits. Date March 26 General Journal Debit Credit Record entry Clear entry May neneral fournal. < Prev 7 of 8 Next > > Journal entry worksheet < 1 2 3 4 Record the payment of the cash dividend. Note: Enter debits before credits. Date April 29 General Journal Debit Credit Record entry Clear entry View general journal < Prev 7 of 8 Next > Journal entry worksheet < 1 2 3 Record the entry to close dividends account. Note: Enter debits before credits. Date April 30 General Journal Debit Credit Record entry Clear entry View general journal 7 of 8 Next > close of business on March 26. The Company's fiscal year will end April 30. Required: 1. Prepare any journal entries that Sweets for Your Sweetie should make on the four dates mentioned in the press release. 2. What would the board of directors have considered before making the dividend decisions? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What would the board of directors have considered before making the dividend decisions? The board must consider the balances of common stock and cash before declaring a cash dividend. The board must consider the balances of retained earnings and cash before declaring a cash dividend