When the Board of Directors Declares a $500 Dividend,which of the Following

Multiple Choice

When the board of directors declares a $500 dividend,which of the following would be included in recording the transaction?

A) increase in Retained Earnings,increase in Dividends Declared
B) decrease in Cash,decrease in Dividends Payable
C) increase in Dividends Declared,increase in Dividends Payable
D) decrease in Dividends Payable,increase in Cash