Question 38 8 points Save Answer A company has 10,000 authorized shares of stock and 1,000 outstanding shares. On May 1, 2020 the board of directors declare a cash dividend of $3 per share outstanding to be paid on May 30, 2020. What will be the journal entry on May 1, 2020? Dividends $3,000 Dividend Payable $3,000 $3,000 Dividends Cash $3,000 $3,000 Dividend Expense Dividends $3,000 D.No Entry until May 30, 2020 Moving to another question will save this response. Question 38 of 50