Fetzer Company Declared a $0

Multiple Choice

Fetzer Company declared a $0.55 per share cash dividend.The company has 200,000 shares authorized,190,000 shares issued,and 8,000 shares in treasury stock.The journal entry to record the dividend declaration is:

A) Debit Retained Earnings $104,500;credit Common Dividends Payable $104,500.
B) Debit Common Dividends Payable $104,500;credit Cash $104,500.
C) Debit Retained Earnings $100,100;credit Common Dividends Payable $100,100.
D) Debit Common Dividends Payable $100,100;credit Cash $100,100.
E) Debit Retained Earnings $110,000;credit Common Dividends Payable $110,000.