On April 22, Greenhouse Corporation declared a $75,000 cash dividend payable to common Shareholders. On June 6, the company paid the dividend declared from April 22. On Decemb 31, the company closed the cash dividends account. Question: The entry to close the cash dividends account if it was used on April 22nd when the dividends were declared would be: Debit Cash Dividends - 75,000 Credit Retained Earnings - 75,000 Select one: True O False