61.Sumatra Ltd declared a final dividend of 8 cents per ordinary shares on 30 June 2020. The companys share register noted that there were 2,000,000 ordinary shares listed. The dividend was paid on 30 September 2020.

What would be the General Journal entry at 30 June 2020 to record the declaration of final dividend?

Group of answer choices

1.DR: Retained earnings $160,000 CR: Dividend payable $160,000

2.DR: Dividend payable $160,000 CR: Cash $160,000

3.DR: Dividends $160,000 CR: Cash 160,000

4.DR: Retained earnings $160,000 CR: Share capital $160,000