Wilmington, Incorporated brands touch the lives of people around the world. Assume that in the current year the company had $10$ billion shares of common stock authorized, $4$ billion shares issued, and $3$ billion shares outstanding. Par value is $$1$ per share. Wilmington, Incorporated has been paying a dividend for over $100$ years.

Required:

Assume that Wilmington, Incorporated declared a dividend of $$2\mathrm{.}63$ per share on October $1$ to stockholders of record on October $15.$ Wilmington, Incorporated paid the dividend on October $20.$ Prepare journal entries as appropriate for each date.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole dollars not in billions $($i$.$e$.,1,000,000,000$ not $1\mathrm{.}0).$

Journal entry worksheet

$1$

$2$

$3$

Record the journal entry on October $1.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$October $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$