On February 16,a Company Declares a 34¢ Dividend to Be

Multiple Choice

On February 16,a company declares a 34¢ dividend to be paid on April 5.There are 1,900,000 shares of common stock issued and outstanding.The entry recorded by the company on February 16 includes a debit to:

A) Dividends Payable and a credit to Cash for $680,000.
B) Dividends and a credit to Dividends Payable for $646,000.
C) Dividends Payable and a credit to Cash for $646,000.
D) Dividends and a credit to Dividends Payable for $680,000.