The board of directors of a company declared a cash dividend of 51.50 per share on 42,000 shares of common stock on jy 15. The stock has a par value of $2. The dividend is to be paid on August 15, to stockholders of record on July 31. The journal entry to be recorded on July 1s will include A Credit to Cash $63,000 B. Credit to Dividends Payable $63,000. Debit to Cash Dividends $84,000. D. NA no journal entry would be recorded on that date E Credit to Cash Dividends 563,000