West Company Declared a $0

West Company declared a $0.50 per share cash dividend. The company has 190,000 shares issued, and 10,000 shares in treasury stock. The journal entry to record the payment of the dividend is:

A) Debit Common Dividends Payable $90,000; credit Cash $90,000.
B) Debit Retained Earnings $5,000; credit Common Dividends Payable $5,000.
C) Debit Retained Earnings $90,000; credit Common Dividends Payable $90,000.
D) Debit Retained Earnings $95,000; credit Common Dividends Payable $95,000.
E) Debit Common Dividends Payable $95,000; credit Cash $95,000.