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The board of directors of Crane and Swifty Enterprises declared a cash dividend of $1.60...

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Accounting

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The board of directors of Crane and Swifty Enterprises declared a cash dividend of $1.60 per share on 37000 shares of common stock on July 15, 2021. The dividend is to be paid on August 15, 2021, to stockholders of record on July 31, 2021. Use the following tabular analysis to record the declaration of the dividend on July 15, 2021: Assets Stockholders' Equity Liabilities Dividends Payable Cash Common Stock Revenue Expense Div. July 15 Increase to Cash Dividends and Dividends Payable for $59200. Decrease to cash and Dividends Payable for $59200. Increase to Dividends Expense and Dividends Payable for $59200. O Increase to Dividends Payable and decrease to Common Stock for $37000

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