Mario's Foods has outstanding 600 shares of 7% preferred stock, $100 par value; and 2,100 shares of common stock, $15 par value. Mario's declares dividends of $16,900. Which of the following is the correct entry? O A. OB. O C. O D. Accounts Dividends Expense Cash Accounts Dividends Payable, Preferred Dividend Payable, Common Cash Accounts Retained Earnings Dividends Payable, Preferred Dividends Payable, Common Accounts Retained Earnings Dividends Payable, Preferred Dividends Payable, Common Debit 16,900 Debit 4,200 12,700 Debit 16,900 Debit 16,900 Credit 16,900 Credit 16,900 Credit 8,450 8,450 Credit 4,200 12,700

Mario's Foods has outstanding 600 shares of 7% preferred stock, $100 par value; and 2,100 shares of common stock, $15 par value. Mario's declares dividends of $16,900. Which of the following is the correct entry