On June 1st, Jackson Corporation declared a $3 25 dividend per Share to shareholders on record as of June 15th, to be paid on June 30th. There were 10,000 shares outstanding Which of the following entries is required on June 1st? DEBIT Cash Dividends, CREDIT Cash DEBIT Cash Dividends Payable, CREDIT Cash DEBIT Cash Dividends Payable, CREDIT Cash Dividends DEBIT Cash Dividends: CREDIT Cash Dividends Payable No Entry Required