Dividends Require Two Accounting Entries,one When the Dividend Is Declared

Dividends require two accounting entries,one when the dividend is declared and another when it is paid.What is the correct entry to record the declaration of a cash dividend of 20c a share calculated on 100 000 shares?

A) Debit bank $20 000; credit dividend payable $20 000
B) Debit retained profits $20 000; credit dividend payable $20 000
C) Debit bank $20 000; credit share capital $20 000
D) Debit dividend payable $20 000; credit retained profits $20 000