Question 7 (2 points) The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2017. The dividend is to be paid on August 15, 2017, to stockholders of record on July 31, 2017. Recording the transaction on July 15, 2017, will include a(n) 1) decrease to Dividends Payable. 2) increase to Cash Dividends. 3) decrease to Cash. 4) decrease to Cash Dividends