On March 23 , a company declared a dividend of $4.00 per share to be paid on July 12 to sharehold record on June 6 . There are 20,000 shares outstanding. What is needed in the journal entry to record the declaration of the dividends on March 23? Credit to cash for $80,000 Debit to dividends for $80,000 Debit to cash for $80,000 Credit to dividends for $80,000