The board of directors of Benson Company declared a cash dividend of $1.50 per share on 42000 shares of common stock on July 15 2021.The dividend is to be paid on August 15 2021 to stockholders of record on July 31 2021.The correct recording on August 15 2021 will include a(n)
A) increase to Cash Dividends.
B) decrease to Cash Dividends.
C) increase to Dividends Payable.
D) decrease to Dividends Payable.
Correct Answer:
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