On February 16, Hawthorne Co. declares a $0.48 dividend to be paid on April 5. Hawthorne has 2,140,000 shares of common stock issued and outstanding. The entry recorded by the company on February 16 includes a debit to: Multiple Choice Dividends Payable and a credit to Cash for $1,027,200. Dividends and a credit to Dividends Payable for $1,027,200. Dividends Payable and a credit to Cash for $972,480. Dividends and a credit to Dividends Payable for $972,480

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow