Tablet Trade & Commerce has 100,000 shares of common stock authorized, 10,000 shares issued and outstanding. On June 1, 2003, the company declared a $5.00 per share dividend for those of record on July 1, 20X3, to be paid on August 1, 20X3. Which of the following journal entries would Tablet Trade & Commerce make on August 1, 20X3? Yantnz: Dividends Payable 50,000 o Cash 50.000 No journal entry is necessary. Retained Earnings 50,000 O Cash 50,000 50,000 0 Retained Earnings Dividends Payable 50.000