A company declared a $0.70 per share cash dividend. The company has 270,000 shares authorized. 79.000 shares issued, oify76.000 shares of common stock outstanding What is the journal entry to record the dividend declaration? Debit Dividends Payable and credit Cash for $55, 300 Debit Dividends and credit Dividends Payable for $55, 300 Debit Dividends and credit Dividends Payable for $53, 200 Debit Dividends Payable and credit Cash for $189,000