On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 23 Record the declaration of cash dividends. Note: Enter debits before credits. Date Credit General Journal Dividends Dividends payable Debit 7,980,000 March 15 7,980,000 Record entry Clear entry View general journal