On December 31, 2014, ACCT, Inc. has 1,500 shares of 6% 100 par value cumulative preferred stock and 90,000 shares of 10 par value common stock outstanding. On December 31, 2014, the directors declare a 30,000 cash dividend. The entry to record the declaration of the dividend would include

a- debu

A- a debit of 30,000 to Cash Dividends

B- a credit of 30,000 to Common Stock

C- a note in the financial statements that dividends of 3 per share are in arrears on preferred stock for 2014

D- a debit of 30,000 to Dividends Payable