TB MC Qu$.11-112($Algo$)$ On February $16,$ Hawthorne Company declares...

On February $16,$ Hawthorne Company declares a $$0\mathrm{.}35$ dividend to be paid on April $5.$

Hawthorne has $2,010,000$ shares of common stock issued and outstanding. The entry

recorded by the company on February $16$ includes a debit to:

Multiple Choice

Dividends Payable and a credit to Cash for $$703,500.$

Dividends and a credit to Dividends Payable for $$703,500.$

Dividends Payable and a credit to Cash for $$668,150.$

Dividends and a credit to Dividends Payable for $$668,150$