On May 1st Maple Corporation's board of trustees declare a $3per share cash dividend to the owners on record on May 8th to be paid of May 15th. The journal entry on May 8th includes a:

credit dividends payable

credit cash

debit retained earnings

no entry

The advantage to a corporation to issue bonds instead of issue stocks is:

bonds pay dividends

bonds involve interest payments

bonds are never a better option than issuing stocks

bonds do not dilute ownership interest

The balance in Fox Corporation's retained earnings account as of December 31st,2019is $560,000.During 2020the net income earned was $390,000and $110,000of cash dividends were declared.The end balance in retained earnings will be:

$950,000

$280,000

$1,060,000

$840,000