Question 21 Swage Corporation is authorized to issue 2 million shares of $1 par value common stock. During 2020 the company declared a $0.20 per share dividend to stockholders, payable January 3, 2021. At the time of declaration total outstanding number of common shares were 9,000. Prepare the required journal entry at the time of declaration. a. (Dr.) Dividends 1,800 (Cr.) Cash 1,800 b. (Dr.) Dividends 1,800 (Cr.) Dividends Payable 1,800 c. (Dr.) Dividends 9,000 (Cr.) Cash 9,000 d. (Dr.) Dividends 9,000 (Cr.) Dividends Payable 9,000