Account Earnings title and explanation is wrong.

CALCULATOR Practice Brief Exercise 1 FULL SCREEN PRINTER VERSION BACK NEX Your answer is partially correct. Try again. Sunland Corporation has 78,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Nov. 1 Retained Earnings 156000 Dividends Payable 156000 Dec. 31 Dividends Payable 156000 Cash 156000 Click if you would like toch