Fetzer Company Declared a $0

Fetzer Company declared a $0.55 per share cash dividend. The company has 200,000 shares authorized, 190,000 shares issued, and 8,000 shares in treasury stock. The journal entry to record the dividend declaration is:

A) Debit Retained Earnings $100,100; credit Common Dividends Payable $100,100.
B) Debit Retained Earnings $110,000; credit Common Dividends Payable $110,000.
C) Debit Common Dividends Payable $104,500; credit Cash $104,500.
D) Debit Retained Earnings $104,500; credit Common Dividends Payable $104,500.
E) Debit Common Dividends Payable $100,100; credit Cash $100,100.