Greenview Corporation earned net income of $150,000 during the year ended December 31, 2020. On December 15, Greenview had declared the annual cash dividend on its $0.35 preferred shares (10,000 shares issued for $100.000) and a $0.45 per share cash dividend on its common shares (30,000 shares for $60,000). Greenview then paid the dividends on January 4, 2021. Journalize the following for Greenview Corporation: a. Declaring the cash dividends on December 15, 2020 b. Paying the cash dividends on January 4, 2021 Did Retained Earnings increase or decrease during 20207 By how much? a. Journalize Greenview Corporation's declaration for the cash dividends on December 15, 2020. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 2020 Dec 15 Cash $ 48,500 $ 35,000 $ 13,500 b. Joumalize Gri January 4, 2021 Accounts Payable Cash Dividends Payable Retained Earnings Debit Credit 2021 Jan $ 35,000 $ 13,500 Cash $ 48,500 Did Retained Earnings increase or decrease during 2020? By how much? During 2020, retained earnings increased by $ $ 1,01,500