Problem
On January 1, Guillen Corporation had 95,700 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred.
Apr. 1 Issued 22,200 additional shares of common stock for $17 per share.
June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30.
July 10 Paid the $3 cash dividend.
Dec. 1 Issued 2,500 additional shares of common stock for $20 per share.
15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31.
(a) Prepare the entries, if any, on each of the three dividend dates.