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ABC announced a dividend payout of $60,000 on Aug 14, what is the journal entry? 1. Cash decreases by 60,000, dividend payable 60,000 2. No

ABC announced a dividend payout of $60,000 on Aug 14, what is the journal entry?

1. Cash decreases by 60,000, dividend payable 60,000

2. No entry

3. Dividend payable 60,000, Retained Earning decreases by 60,000

4. Dividend payable 60,000, dividend asset increase by 60,000

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