Springer Co B) C) D)

Springer Co.was incorporated on January 1, 2019, at which time 500,000 shares of $1 par value common stock were authorized, and 210,000 of these shares were issued for $9 per share.Net income for the year ended December 31, 2019, was $1,900,000.Springer Co.'s board of directors declared dividends of $1.40 per share of common stock on December 31, 2019, payable on January 27, 2020. The entry to record the payment of dividends on January 27, 2020 is:

A) $$\begin{array} { | r | c | c | c | } \hline \text { Dr. } & \text { Retained Earnings } & 294,000 & \\\hline \text { Cr. } & \text { Dividends Payable } & & 294,000 \\\hline\end{array}$$
B) $$\begin{array} { | r | l | c | c | } \hline \text { Dr. } & \text { Cash } & 294,000 & \\\hline \text { Cr. } & \text { Dividends Payable } & & 294,000 \\\hline\end{array}$$
C) $$\begin{array} { | r | l| c | c | } \hline \text { Dr. } & \text { Retained Earnings } & 294,000 & \\\hline \text { Cr. } & \text { Cash } & & 294,000 \\\hline\end{array}$$
D) $$\begin{array} { | r | l | c | c | } \hline \text { Dr. } & \text { Dividends Payable } & 294,000 & \\\hline \text { Cr. } & \text { Cash } & & 294,000 \\\hline\end{array}$$