Fowler Co.'s balance sheet showed the following at December 31, 2013: 
A cash dividend is declared on December 31, 2013, and is payable on January 20, 2014, to shareholders of record on January 10, 2014.
Required:
(1.) Prepare all appropriate journal entries, assuming a cash dividend in the amount of $1.00 per share.
(2.) Prepare all appropriate journal entries, assuming a cash dividend in the amount of $5.00 per share.
Definitions:
First-Time
Experiencing, encountering, or undergoing something for the very first time.
Specific Recollections
The act of remembering and recounting detailed memories from specific events in one's past.
Barsalou
A researcher known for contributions to the understanding of categorization, conceptualization, and grounded cognition.
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