Bowie Company has 100,000 shares of common stock outstanding. On April 15, the board declared a $.30 dividend to be paid to stockholders of record on May 4. The dividend was distributed on May 15. The proper journal entry for Bowie Company on May 15 does includes ____________.

Options:

a debit to Cash for $30,000

both a debit to Dividends Payable for $30,000 and a credit to cash for $30,000

a credit to Dividends Payable for $30,000

None of the above