The Board of Directors of Campo Viejo Inc

The board of directors of Campo Viejo Inc.declared a cash dividend of $1.00 per share on 630000 shares of common stock on June 1 2021.The dividend is to be paid on July 17 2021 to stockholders of record on July 3 2021.Use the following tabular analysis to record the required entry on July 3 2021:

A) Increase to Dividends Expense and Dividends Payable for $630000.
B) Decrease to Cash and Dividends Payable for $630000.
C) Decrease to Dividends Payable and decrease to Cash for $630000.
D) No entry is needed on this date.