A Company Declared and Paid Dividends of $1,300

Multiple Choice

A company declared and paid dividends of $1,300.How does this transaction affect the accounting equation?

A) Add $1,300 to Revenue and add $1,300 to Cash.
B) Add $1,300 to Dividends and add $1,300 to Accounts Receivable.
C) Subtract $1,300 from Retained Earnings and subtract $1,300 from Cash.
D) Add $1,300 to Dividend Expense and subtract $1,300 from Cash.