6. Prepare the journal entry to record the issuance of common stock by Kindley Corporation assuming 2,000 shares of common stock are issued for cash at $8 per share. The stock has no par value or stated value. a. Debit Cash $16,000 and Credit Common Stock $16,000 b. Debit Cash $10,000 and Credit Common Stock $10,000 c. Debit Cash $16,000, Credit Common Stock $10,000 and Credit Paid in Capital Common Stock $6,000 d. Debit Cash $16,000, Credit Common Stock $10,000 and Credit Premium on Capital Common Stock $6,000 Zanny Company, has just declared a 5 cents per share dividend on its 1,000,000 outstanding shares of common stock. Use this information for questions 8- 10. 7. The entry the declaration date is: a. Debit Dividends Payable $50,000 and Credit Dividend Distributable $50,000 b. Debit Retained Earnings $50,000 and Credit Cash $50,000 c. Debit Dividends Declared $50,000 and Credit Dividends Payable $50,000 d. Debit Dividends Declared and Credit Cash e. No entry is required 8. The entry on the record date is: a. Debit Dividends Payable $50,000 and Credit Dividend Recorded $50,000 b. Debit Dividends Recorded $50,000 and Credit Cash $50,000 c. Debit Dividends Declared $50,000 and Credit Dividends Payable $50,000 d. Debit Dividends Declared $50,000 and Credit Cash $50,000 e. No entry is required