Lofen Enterprises had issued shares of common stock totaling 3,180,000 at the beginning of 2027. In order to increase their earnings per share, the company repurchased 530,000 shares of their stock on July 26, 2027. On November 30, 2027, Lofen's board of directors declared dividends of $3.26 per share payable on January 5, 2028. The company's accounting cycle ends on December 31st each year. Record the journal entry for the liability incurred (created). To answer this question, please copy and paste the table, and enter your answers in corresponding cells of the table. You may or may not need all of the rows in the table, DATE DESCRIPTION DEBIT CREDIT