West Company Declared a $0

Multiple Choice

West Company declared a $0.50 per share cash dividend.The company has 190,000 shares issued,and 10,000 shares in treasury stock.The journal entry to record the dividend declaration is:

A) Debit Retained Earnings $90,000;credit Common Dividends Payable $90,000.
B) Debit Common Dividends Payable $95,000;credit Cash $95,000.
C) Debit Retained Earnings $5,000;credit Common Dividends Payable $5,000.
D) Debit Common Dividends Payable $90,000;credit Cash $90,000.
E) Debit Retained Earnings $95,000;credit Common Dividends Payable $95,000.