Question 18 (4 points) Listen The board of directors of Jetson Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2022. The dividend was paid on August 15, 2022, to stockholders of record on July 31, 2022. The effects of the journal entry to record the declaration of the dividend on July 15, 2022, are to decrease retained earnings and increase dividends payable.. decrease retained earnings and decrease cash. increase retained earnings and decrease common stock. increase common stock and increase cash.

The board of directors of Jetson Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15,2022 . The dividend was paid on August 15,2022 , to stockholders of record on July 31, 2022. The effects of the journal entry to record the declaration of the dividend on July 15,2022 , are to decrease retained earnings and increase dividends payable. decrease retained earnings and decrease cash. increase retained earnings and decrease common stock. increase common stock and increase cash