Boston Enterprises declared and paid a dividend of $11,600 this year.The entry to close the Dividend at the end of the year will include a debit to:
A) Dividends and a credit to Cash for $11,600.
B) Retained Earnings and a credit to Dividends for $11,600.
C) Dividends and a credit to Retained Earnings for $11,600.
D) Dividends and a credit to Dividends Payable for $11,600.
Correct Answer:
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