The correct journal entry to record the declaration

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Reference no: EM13825492

A cash dividend of $500 was declared and paid to stockholders. The correct journal entry to record the declaration is:

a. DR Capital stock 500 and CR Cash 500

b. DR Cash 500 and CR Dividends 500

c. DR Dividends 500 and CR Cash 500

d. DR Cash 500 and CR Capital stock 500

Reference no: EM13825492

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