38 Fetzer Company declared a $0.40 per share cash dividend. The company has 420,000 shares authorized, 399,000 shares issued, and 16,800 shares in treasury stock. The journal entry to record the dividend declaration is: Skipped Multiple Choice 1 0 Debit Common Dividends Payable $152,880; credit Cash $152,880. 0 Debit Retained Earnings $168,000; credit Common Dividends Payable $168,000. 0 Debit Common Dividends Payable $159,600; credit Cash $159,600. 0 O Debit Retained Earnings $159,600; credit Common Dividends Payable $159,600. 0 Debit Retained Earnings $152,880; credit Common Dividends Payable $152,880