Malcolm Corporation Declared a Dividend of $5 Per Share on 2,200

Multiple Choice

Malcolm Corporation declared a dividend of $5 per share on 2,200 shares. The entry to record the transaction would be to:

A) debit Retained Earnings $11,000; credit Dividends Payable $11,000.
B) debit Retained Earnings $11,000; credit Cash $11,000.
C) debit Dividends Payable $11,000; credit Cash $11,000.
D) debit Dividends Expense $11,000; credit Cash $11,000.