On July 13 the company declared cash dividends of $25,000. The dividends were paid on October 19. Make the journal entries necessary to record both events. Which ONE of the following should be included in the journal entry necessary to record the PAYMENT of the dividends on October 16? DEBIT Cash for $25,000 DEBIT Operating Expenses for $25,000 DEBIT Common Stock at Par for $25,000 DEBIT Paid-in Capital in Excess of Par for $25,000 DEBIT Dividends Payable for $25,000