14.The board of directors of Delta, Inc. declared a $0.60 per share cash dividend on its $1 par value common stock. On the date of the declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the journal entry for the dividend declaration?

A) Retained Earnings9,000

Dividends Payable9,000

B) Retained Earnings12,000

Dividends Payable12,000

C) Retained Earnings15,000

Dividends Payable15,000

D) Retained Earnings20,000

Dividends Payable20,000