D Question 38 2 pts The Board of Directors of Chestnut Corporation declared a $0.60 per share Cash Dividend on its $1 Par Value Common Stock. On the Date Of Declaration, there were 50,000 shares of Common Stock authorized, 20,000 shares issued and 5,000 shares held as Treasury Stock. The Journal Entry made by Chestnut Corporation when the Dividends are declared is: A. Dividends $9,000 Dividends $9,000 Payable B. Dividends $9.000 Cash $9,000 C. Dividends $12,000 Dividends $12,000 Payable D. Dividends $12.000 Cash $12,000 Option D. Option C. Option A. Option B