Kader Co. paid a total of $35,000 in dividends during the current year. The entry needed to close the dividends account is:

Select one:

a. Debit Income Summary and credit Cash for $35,000

b. Debit Dividends and credit Cash for $35,000

c. Debit Income Summary and credit Dividends for $35,000

d. Debit Retained Earnings and credit Dividends for $35,000

e. Debit Dividends and credit Retained earnings for $35,000