Dutchik company declared a dividend of $3 per common share of stock. Dutchik company provided the following information regarding its common shares at the time the dividends were declared. Authorized Shares ssued Shares Outstanding Shares Treasury Shares 550,000 350,000 320,000 30,000 What is the journal entry to be recorded by Dutchik Company at the time of the dividend declaration? DR Retained Earnings $1,050,000 CR Cash $1,050,000 DR Retained Earnings $960,000 CR Cash $960,000 DR Retained Earnings $1650.000 CR Cash $1650,000 DR Retained Earnings $1,050,000 CR Dividends Payable $1,050,000 DR Retained Earnings $960,000 CR Dividends Payable $960,000 DR Retained Earnings $1,650,000 CR Dividends Payable $1650,000