Awn Services Paid a Dividend of $8,700 During the Current $$\begin{array} { | c | r | r | } \hline \text { Dividends } & 8,700 & \\\hline \text { Cash } & & 8,700 \\\hline\end{array}$$

Multiple Choice

Awn Services paid a dividend of $8,700 during the current year.The entry to close the dividend account at the end of the year is:

A) $$\begin{array} { | c | r | r | } \hline \text { Dividends } & 8,700 & \\\hline \text { Cash } & & 8,700 \\\hline\end{array}$$
B) $$\begin{array} { | c | c | c | } \hline \text { Retained earnings } & \mathbf { 8 } , 700 & \\\hline \text { Dividends } & & \mathbf { 8 , 7 0 0 } \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Dividends } & 8,700 & \\\hline \text { Retained earnings } & & 8,700 \\\hline\end{array}$$
D) $$\begin{array} { | c | c | c | } \hline \text { Common Stock } & 8,700 & \\\hline \text { Dividends } & & 8,700 \\\hline\end{array}$$
E) $$\begin{array} { | c | c | c | } \hline \text { Income Summuary } & 8,700 & \\\hline \text { Retained earnings } & & 8,700 \\\hline\end{array}$$