Mat ALL E mkt 220 situation Sayed Help Save & Exit Submit On December 15, 2019, the board of directors of Cross Corporation declared a cash dividend, payable on January 8, 2020, of $1.05 per share on the 2,000,000 common shares outstanding, On December 15, 2019, Cross Corporation should Multiple Choice not prepare a journal entry because the event had no effect on the corporation's financial position until 2020, decrease retained earnings $2.10 million and increase expenses $2.10 million decrease retained earnings $210 million and increase liabilities by $2.10 million decrease cash $2.10 million and decrease retained earnings $20 million