Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 29,000 shares authorized. 14.400 shares issued, and 11,600 shares of common stock outstanding. The journal entry to record the dividend Declaration is M e Choice O Debt Retained Earnings 55.000 credit Common Dividends Payable 55.000 o Debit Common Dividends Payable 55.800. Credit Cash 55.800 O Debit Common Dividends Payable 57.200 credit Cash $7.200