Crescendo, Co. reported the following information from the Stockholders Equity section of their balance sheet as of June 1, 2021: Common Stock: $500 ($0.01 par value; 1,000,000 shares authorized, 50,000 shares issued and outstanding as of 6/1/21); Additional Paid-in Capital: $124,633; Retained Earnings: $90,245

During the June 2021, Crescendo completed these transactions that affected Stockholders Equity:

• On June 2^nd, issued 3,000 shares of Common Stock for $25 per share.
• On June 5^th, declared a cash dividend of $0.25 per common share, payable to all stockholders of record on June 10^th.
• On June 18^th, paid the cash dividend declared on June 5^th.
• On June 20^th, issued 2,200 shares of Common Stock for $30 per share.
• On June 28^th, reacquired 1,900 shares of common stock as Treasury Stock, paying $32 per share.

The journal entry to record the declaration of Dividends on June 5^thwould be:

Group of answer choices

Debit: Dividends Payable $12,500; Credit: Cash $12,500

Debit: Dividends $13,250; Credit: Cash $13,250

Debit: Dividends $13,250; Credit: Dividends Payable $13,250

Debit: Dividends $12,500; Credit: Dividends Payable $12,500

Debit: Dividends Payable $13,250; Credit: Cash $13,250