44. During 2015, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15 per share. Jun 15 Issued 2,000 common shares at $14 per share in exchange for equipment valued at $27,000. Sep 30 The board of directe The board of directors declared a 10% common stock dividend Nov 30 The board of directors declared a cash dividend of $0.22 per share to shareholders of record on December 15, payable on December 20. The journal entry required to record the cash dividend would be: (a) Dr Nov-30 Cash dividends 4840 Dividends payable 4840 Dec-20 Dividends payable 4840 Cash 4840 (b) Nov-30 Cash dividends 5324 Dividends payable 5324 Dec-20 Dividends payable 5324 Cash 5324 Nov-30 Cash dividends 7216 Dividends payable 7216 Dec-20 Dividends payable 7216 Cash 7216 (d) Nov-30 Cash dividends 5808 Dividends payable 5808 5808 Dec-20 Dividends payable Cash 5808