6-14-22 i con-con&external_browser=0&launchUrl=https%253A%252F%2... A Saved Help Save & Exit On May 1, Year 1, Love Corporation declared a $50,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. b. Prepare journal entries for all events associated with the dividend. Complete this question by entering your answers in the tabs below. Required A Required B Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. (In the Statement of Cash Flows column, in (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an element was not affected by the event. Enter amoum minus sign.) May 01 LOVE CORPORATION Horizontal Statements Model Income Statement Statement of Cash - Expenses = Net Income Flows Balance Sheet Date Assets = Liabilities Common Stock Retained Earnings Revenue + + May 15 May 31 < Prev 3 of 3 Next > Journal entry worksheet 2 3 4 On May 1, Love Corporation declared a $50,000 cash dividend to be paid on May 31. Record the transaction. Note: Enter debits before credits. Date May 01 A General Journal Debit Credit Record entry Clear entry View general journal Next Journal entry worksheet 2 3 The shareholders on record on May 15 will receive a dividend payment to be paid May 31. Record the transaction. Note: Enter debits before credits. Date May 15 General Journal Debit Credit Record entry Clear entry View general journal < Prev 3 of 3 www Next Journal entry worksheet 3 4 On May 31, the dividends are paid to the shareholders of record on May 15. Record the transaction. Note: Enter debits before credits. Date May 31 General Journal Debit Credit Record entry Clear entry 3. View general journal Next Journal entry worksheet 3 4 On May 31, the dividends are paid to the shareholders of record on May 15. Record the transaction. Note: Enter debits before credits. Date May 31 General Journal Debit Credit Record entry Clear entry 3. View general journal Next Journal entry worksheet 2 3 4 On December 31, the closing entry for dividends is recorded. Record the transaction. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry