Use the Following Information for Questions

question 9

Multiple Choice

Use the following information for questions.
On July 15, 2018, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2018, to shareholders of record on July 31, 2018.
-The correct entry to be recorded on August 15, 2018 will include a

• A) debit to Dividends Declared.
• B) credit to Retained Earnings.
• C) credit to Dividends Payable.
• D) debit to Dividends Payable.

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