Basse Corporation has 7,000 shares of common stock outstanding. It declares a $ 1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare a tabular summary to record the declaration and payment of the cash dividend. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Paid-in-Capital Cash = Dividend Payable + + + Nov. 1 $ $ 7,000 $ $ Dec. 31 7,000 e Textbook and Media