J. Smith, the sole stockholder, received a $100 dividend from Jay's Limo Services. Which of the following general journal entries will Jay's Limo Services make to record this transaction?
A.
| Cash | 100 | |
| Common Stock | 100 |
B.
| Dividends | 100 | |
| Cash | 100 |
C.
| Dividends | 100 | |
| Common Stock | 100 |
D.
| Cash | 100 | |
| Dividends | 100 |
E.
| Common Stock | 100 | |
| Dividends | 100 |
Answer: B
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