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On November 27 , the board of directors of Skysong Company declared a $0.50 per...

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Accounting

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On November 27 , the board of directors of Skysong Company declared a $0.50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24 . Skysong has 26,000 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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