On 1 November 2016,Oster Company Declared a Dividend of $4

On 1 November 2016,Oster Company declared a dividend of $4.75 per share.Oster Ltd has 20,000 ordinary shares outstanding and no preference shares.The date of record is 15 November and the payment date is 30 November 2016.Which of the following is the journal entry needed on 30 November?

A) debit Dividends payable,ordinary $95,000 and credit Cash $95,000
B) debit Cash $95,000 and credit Dividends payable,ordinary $95,000
C) debit Retained earnings $95,000 and credit Cash $95,000
D) debit Retained earnings $95,000 and credit Dividends payable,ordinary $95,000