26. On February 16, a company declares a $0.34/common share dividend to be paid on April 5. There are 2 million shares of common stock issued and 100,000 shares of treasury stock. What does the company record on April 5? A. A debit to Dividends Payable and a credit to Cash for $680,000. B. A debit to Retained Earnings and a credit to Dividends Payable for $646,000. C. A debit to Dividends Payable and a credit to Cash for $646,000. D. A debit to Retained Earnings and a credit to Dividends Payable for $680,000