Sage Inc declared a cash dividend of $1.4 per share on its 5 million outstanding shares. The dividend was declared on August 1. payable on September 9 to all stockholders of record on August 15. Prepare all journal entries necessary on those three dates. (Enter answers in dollars. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Debit Credit Account Titles and Explanation Retained Earnings Aug 1 5000000 Dividends Payable 5000000 Aug. 15 No Entry No Entry Sep. 9 Dividends Payable 5000000 Cash 5000000