On December 31, 2020, Coronado, Inc. has 4300 shares of 6% $100 par value cumulative preferred stock and 60800 shares of $10 par value common stock outstanding. On December 31, 2020, the directors declare a $ 21500 cash dividend. The entry to record the declaration of the dividend would include: O acredit of $ 21500 to Cash Dividends. O a debit of $ 21500 to Common Stock O a note in the financial statements that dividends of $3 per share are in arrears on preferred stock for 2020. O a credit of $ 21500 to Dividends Payable. The purchase of treasury stock O decreases common stock authorized. O decreases common stock issued. O decreases common stock outstanding. O has no effect on common stock outstanding. When preferred stock is cumulative, preferred dividends not declared in a period are O considered a liability. O called dividends in arrears. o distributions of earnings. never paid. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is O Paid-in Capital in Excess of Par. O Common Stock Dividends Distributable. O Stock Dividends. Common Stock