Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000. Debit Common Dividends Payable $4,500; credit Cash $4,500. Debit Retained Earnings $10,000; credit Common Dividends Payable $10,000K Debit Common Dividends Pavable $4.000 credit Cash $4.000

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000. Debit Common Dividends Payable $4,500; credit Cash $4,500, Debit Retained Earnings $10,000; credit Common Dividends Payable $10,000 Dehit Commnn Divirtends Pmahle $4 non redit Cash