Malcolm Corporation declared a dividend of $5 per share on 2,200 shares. The entry to record the transaction would be to:
A) debit Retained Earnings $11,000; credit Dividends Payable $11,000.
B) debit Retained Earnings $11,000; credit Cash $11,000.
C) debit Dividends Payable $11,000; credit Cash $11,000.
D) debit Dividends Expense $11,000; credit Cash $11,000.
Correct Answer:
Verified
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