The board of directors of Capstone Incorporated declared a $0.70 per share cash dividend on its $3 par common stock. On the date of declaration, there were 51,000 shares authorized, 25,000 shares issued, and 3,000 shares held as treasury stock. What is the entry when the dividends are declared? Transection Account Title Debit Credit A. Dividends 15,400 Dividends Payable 15,400 B. Dividends 15,400 Cash 15,400 C. Dividends 35,700 Dividends Payable 35,700 Dividends 17,500 Cash 17,500