Remaining Time: 44 minutes, 10 seconds. Question Completion Status QUESTION 27 A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12.000 common shares outstanding. The journal entry to record the declaration of the cash dividend is Debit Common Dividend Payable 512,000: Credit Cash $12,00D Debit Common Dividend Payable 512,000: credit Rred Earings $12,000 Debit Dividend Expense $12,000 credit Common Dividend Payable $12.000 Debit Dividend Expense $12.000 credit Cash 512.000 Debt Retained Earnings $12,000 credit Common Dividend Payable $12.000