On December $31,2027,$ Bramble, Inc. has $4400$ shares of $6\%$ $$100$ par value cumulative preferred stock and $60800$ shares of $$10$ par value common stock outstanding. On December $31,2027,$ the directors declare a $$20900$ cash dividend. The entry to record the declaration of the dividend would include:

a$)$ A note in the financial statements that dividends of $$3$ per share are in arrears on preferred stock for $2027.$

b$)$ A credit of $$20900$ to cash dividends.

c$)$ A debit of $$20900$ to common stock

d$)$ A credit of $$20900$ to dividends payable.