On March 1, Infinity Corp. had 20,000 shares of common stock authorized and 7,000 shares of $5 par common stock issued and outstanding when it declared a $.60 (sixty cents) per share dividend to be paid on March 31. Use the drop-down menu to complete each of the following sentences: A. The journal entry on March 1 should have a debit to Dividends Payable 4 for $4200 and a credit to