Kader CoPaid a Total of $35,000 in Dividends During the Current

Multiple Choice

Kader Co.paid a total of $35,000 in dividends during the current year.The entry needed to close the dividends account is:

A) Debit Income Summary and credit Cash for $35,000
B) Debit Dividends and credit Cash for $35,000
C) Debit Income Summary and credit Dividends for $35,000
D) Debit Retained Earnings and credit Dividends for $35,000
E) Debit Dividends and credit Retained earnings for $35,000