Sethco announces that it will pay a dividend of $5/share on January 3rd. Sethco has 10,000 shares outstanding. The current price of each share is $36. Sethco pays the dividend on February 14th. Which of the following is part of the correct journal entry that Sethco will record on February 14th?

CREDIT to Cash of $360,000

CREDIT to Dividends Payable of $50,000

CREDIT to Cash of $50,000

DEBIT to Dividends Payable of $5,000