The board of directors declared a $0.50 per share cash dividend on common stock, and the corporation had 10,000 shares authorized and 6,000 shares outstanding. The journal entry for the dividend declaration would include a debit to
a. Retained Earnings, $5,000; b. Retained Earnings, $6,000; c. Cash, $5,000; d. Cash, $10,000; e. none of these.
E
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