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 effects of recording the payment of the dividend on August 15 2021 are to
A) decrease stockholders' equity and decrease liabilities.
B) decrease liabilities and decrease assets.
C) increase stockholders' equity and increase liabilities.
D) increase stockholders' equity and decrease assets.
Correct Answer:
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