24. The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry for the dividend declaration?

A. Retained earnings 9,000 Cash dividends payable 9,000 B. Retained earnings 9,000 Cash 9,000 C. Retained earnings 10,000 Cash dividends payable 10,000 D. Retained earnings 10,000 Cash 10,000