The board of directors for the Kroger Company headquartered in Cincinnati Ohio votes to declare a cash dividend of $1.00 per share on its 9,000 common shares outstanding. The journal entry to record the payment of the cash dividend is: Debit Common Dividend Payable $9,000; credit Cash $9,000. Debit Dividend Expense $9,000; credit Cash $9,000. Debit Dividend Expense $9,000; credit Common Dividend Payable $9,000 Debit Common Dividerd Payable $9,000; credit Retained Earnings $9,000. Debit Retained Earnings $9,000; credit Common Dividend Payable $9,000