A corporation declared a cash dividend of $1.20 per share on 40,000 shares of common stock on April 15. The dividend is to be paid one month later on May 15 to stockholders of record on April 30. The correct entry to be recorded on the date of declaration of April 15 will include a O debit to the Dividends Payable account and a credit to the Cash account. O debit to the Cash Dividends account and a credit to the Dividends Payable account. debit to the Cash Dividends account and a credit to the Cash account. O debit to the Dividends account and a credit to the Cash Dividends Payable account. O none of these.