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Greentea Corporation earned net income of $80,000 during the year ended December 31, 2018. On December 15. Greentea declared the annual cash dividend on its

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Greentea Corporation earned net income of $80,000 during the year ended December 31, 2018. On December 15. Greentea declared the annual cash dividend on its 9% preferred stock (12,000 shares with total par value of $120,000) and a $0.25 per share cash dividend on its common stock (55,000 shares with total par value of S550.000). Greentea then paid the dividends on January 4, 2019 Read the requirements a. Journalize for Greentea Corporation the declaration for the cash dividends on December 15, 2018. (Record debits first, then credits. Exclude explanations from any journal entries. Use only a single account to record the dividends) Journal Entry Accounts Debit Credit B. Joumalize for Greentea Corporation the payment of the cash dividends on January 4, 2019 Journal Entr Accounts Debit Credit Did retained earnings increase or decrease during 2018? By how much? During 2018 retained earnings Choose from any list or enter any number in the input helds and then continue to the next question et income of $80,000 during the year ended December 31, 2018. On December 15. Greentea declared the res with total par value of $120,000) and a $0.25 per share cash dividend on its common stock (55,000 sha the dividends on January 4, 2019. Doration the declaration for the cash dividends on December 15, 2018. (Record debits first, then credits. Excl le account to record the dividends.) Journal Entry Accounts Debit Credit * Requirements Corporati Journalize the following for Greentea a. Declaring the cash dividends on December 15, 2018 b. Paying the cash dividends on January 4, 2019 Did retained earings increase or decrease during 2018? By how much? Print Done ease or decrease during 2018? By how much? nings by 5 enter any number in the input fields and then continue to the next

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