PA$8.$ LO $14\mathrm{.}3$ Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue $500,000$ shares of $$100$ par value $8\%$ preferred stock. It is also authorized to issue $750,000$ shares of $$1$ par value common stock. It has issued only $50,000$ of the common shares and none of the preferred shares. In its seventh year, the corporation has the following transactions:

Mar. $1$ Declares a cash dividend of $$5$ per share

Mar. $30$ Pays the cash dividend

Jul. $10$ Declares a property dividend of $1/2$ ton of limestone per share when the price of limestone is $$25$ per ton

Journalize these transactions.