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Question 2.01 (1 point, 1 minute) On December 31, 2017, Springer, Inc. has 3,000 shares of 5% $100 par value cumulative preference shares and 60,000 ordinary shares with a $10 par value outstanding. On December 31, 2017, the directors declare a $20,000 cash dividend. The entry to record the declaration of the dividend would include a) a credit of $10,000 to Retained Earnings b) a note in the financial statements that dividends of $5 per share are in arrears on preference shares for 2017 c) a debit of $15,000 to Dividends Payable d) a credit of $20,000 to Cash e) a debit of $20,000 to Share Capital-Ordinary f) a debit of $20,000 to Retained Earnings g) a debit of $20,000 to Share Premium-Treasury h) a credit of $20,000 to Dividends Payable