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Question 9 of 12 - / 5 E View Policies Current Attempt in Progress Aquamanu Developments is authorized to issue 500,000 shares. To date, the company has 172,400 shares issued and 134,900 outstanding Aquamanu is considering declaring a dividend to its common shareholders. Management is recommending the board of directors to consider the following options at the next meeting scheduled for March 1 1 The boards of directors should approve a motion directing the company to pay a dividend of $0.30 per share on May 1 to shareholders of record on April 15 or 2. The board should approve a motion directing the company to declare a 10% stock dividend. Aquamanu would distribute one common share for every 10 common shares currently held. The company's common shares are currently selling for $50 per share. Question 9 of 12 -/5 E (a) Prepare any necessary journal entries for the cash dividend on March 1. April 15, and May 1 (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit (Date of declaration) (Date of record) March 1 (Date of payment) April 15 May 1 hd Media

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