Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares issued, and 46,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice O Debit Dividends Payable and credit Cash for $36,750 Debit Dividends and credit Dividends Payable for $36.750, Debit Dividends and credit Dividends Payable for $34.500 O Debit Dividends Payable and credit Cash for $90.000 A company issued 8% preferred stock with a $100 par value. This means: Multiple Choice Only 8% of total contributed capital can be preferred stock. Preferred stockholders are guaranteed a dividend. Preferred stockholders are entitled to 8% of the annual net income. The potential dividend to preferred stockholders is $8 per share per year