Jones Corporation has 20,000 shares of $5 par value common stock outstanding and 10,000 shares of 10% $10 par value cumulative preferred stock outstanding. The board of directors has approved cash dividends of $8,000 in 2019 and $15.000 in 2020. What is the total amount of dividends distributed to common stock shareholders in 2020? Question 17 10 pts When a corporation purchases some of its own stock that had been issued and is outstanding, what entry does it make for the purchase assuming the shares are not considered to be "retired"? Debit Cash: Credit Treasury Stock Debit Treasury Stock: Credit Cash Debit Treasury Stock: Credit Common Stock: Credit Paid in Capital in Excess of Par Debit Treasury Stock: Debit Paid in Capital Repurchase: Credit Cash Question 18 10 pts True or False. Retained earnings should never have a debit balance. True False