The main part of the question I do not understand is how the journal entry for July 1 is calculated. Please help

17 Recording and reporting equity LO2, 3, 5,6 Czernkowski Company had the following balances in its shareholders' equity at 1 January: Contributed equity (450 0000 $2100 000 ordinary shares) Retained earnings 2225000 During the year, Czernkowski had the following transactions: 1 Mar. Issued 200 000 ordinary shares for cash at $8 per share. 1 Jul. Declared a 1 for 10 share dividend, payable 1 August. The shares were trading at $7 per share on 1 July. 15 Aug. Declared a 50 cent per share cash dividend of record on 1 September, payable 15 September 1 Oct. Bought back 6000 ordinary shares for $45000. 31 Dec. Revenue for the year $1620000, expenses for the year $1 100 000 REQUIRED a Prepare the journal entries to record the transactions