Malcolm Corporation Declared a Dividend of $3 Per Share on 1,200

Multiple Choice

Malcolm Corporation declared a dividend of $3 per share on 1,200 shares.The entry to record the transaction would be to:

A) debit Dividends Expense $3.600;credit Cash $3.600.
B) debit Retained Earnings $3,600;credit Cash $3,600.
C) debit Dividends Payable $3,600;credit Cash $3,600.
D) debit Retained Earnings $3,600;credit Dividends Payable $3,600.