Wayout Ltd is a company that makes denim clothes.

This dividend information is available for the year ended 31 December 20x0:

You are required to:

1. Indicate on which dates Wayout Ltd should record their dividends and investors in Wayout Ltd should record their dividends as receivable.

2. Provide the journal entries related to dividends of Wayout Ltd for the year ended 31 December 20x0.

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Dividends paid Interim dividend 20 June 30 June 5 July 31 July Final dividend 20 December 31 December 5 January 30 January Dividend proposed Dividend approved in general meeting Closing of the shareholders registers Payment of dividend Dividend proposed Dividend approved in general meeting Closing of shareholders register Payment of dividend Dividend received from investments 30 June 31 December Dividend tax is withheld at 15% R50 000 R80 000 R60 000 R30 000