Greentea Corporation earned a net income of $98,000 during the year ended December 31, 20x6. On December 15, Greentea declared the annual cash dividend on its 6% preference shares (10,000 shares with total par value of $100,000) and a $1.00 per share cash dividend on its ordinary shares (50,000 shares with total par value of $500,000). Greentea then paid the dividends on January 4, 20x7. Journalize for Greentea Corporation: a. Declaring the cash dividends on December 15, 20X6. b. Paying the cash dividends on January 4, 20x7. Did Retained Earnings increase or decrease during 20X6? By how much? a. Journalize for Greentea Corporation the declaration for the cash dividends on December 15, 20X6. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 20X6 Dec 15 Im Accounts Payable b. Journalize for Cash on January 4, 20X7. (Record debits first then credits. Explanations are not required.) Dividends Payable Retained Earnings Next Greentea Corporation earned a net income of $98,000 during the year ended December 31, 20X6. On December 15, Greentea declared the annual cash dividend on its 6% preference shares (10,000 shares with total par value Dec 15 b. Journalize for Greentea Corporation the payment of the cash dividends on January 4, 20x7. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 20X7 Jan 4 decreased increased Did Retained Earnings increase X6? By how much? During 20X6, retained earnings by $