King Tut Corporation issued 6,800 shares of common stock, all of the same class; 3,600 shares are outstanding and 3,200 shares are held as treasury stock. On December 1, 2019, King Tut's board of directors declares a cash dividend of $1.75 per share payable on December 15, 2019, to stockholders of record on December 10, 2019. Required: Prepare the appropriate journal entries for the (a) date of declaration, (b) date of record, and (c) date of payment. If no entry is required, choose "No entry required" and leave the amount boxes blank. (a) Retained Earnings (or Dividends) Dividends Payable (b) Dividends Payable Cash (c) Dividends Payable Cash Feedback Dividends are generally paid out of retained earnings. Dividends become an obligation to the company on the date of declaration.