On April 1, 2020 Sunshine Foods Co. declared dividends totaling $18,000 to be paid on June 1, 2020 to all shareholders on record as of May 1, 2020 Which of the following is the correct journal entry that Sunshine Foods Ca. should record on the date of declaration (April 1, 202037 2. DR Dividends Payable $18,000 CR Cash 518,000 OD DR Retained Earnings $18.000 CR Dividends Payable 518,000 OC.DR Dividends Expense 518,000 CR Dividends Payable 518.000 Od No journal entry is required on the date of declaration