On February 16, Hawthorne Co. declares a $0.37 dividend to be paid on April 5. Hawthorne has 2,030,000 shares of common stock issued and outstanding. The entry recorded by the company on February 16 includes a debit to:
A. Dividends Payable and a credit to Cash for $712,990.
B. Dividends and a credit to Dividends Payable for $751,100.
C. Dividends Payable and a credit to Cash for $751,100.
D. Dividends and a credit to Dividends Payable for $712,990
Answer: B
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