Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 21,000 shares authorized, 9, 600 shares issued, and 8, 400 shares of common stock outstanding. The journal entry to record the dividend declaration is: Debit Retained Earnings $4.200 credit Common Dividends Payable $4, 200 Debit Common Dividends Payable $4, 200, credit Cash $4, 200. Debit Retained Earnings $4, 800. credit Common Dividends Payable $4, 800 Debit Common Dividends Payable $4, 800 credit Cash $4, 800 Debit Retained Earnings $10, 500 credit Common Dividends Payable $10, 500