Port, Inc. paid a cash dividend on January 2 that had been declared prior to the end of its fiscal year. This transaction to pay the dividend will
A) increase Cash and increase Cash Dividend Payable.
B) decrease Cash Dividend Payable and decrease Cash.
C) decrease Retained Earnings and increase Cash Dividend Payable.
D) decrease Cash Dividend Payable and increase Retained Earnings.
Correct Answer:
Verified
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