The board of directors of Ayayai Corp. declared a cash dividend of $1.45 per share on 40000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The effects of the journal entry to record the declaration of the dividend on July 15, 2020, are to

A.increase stockholders equity and decrease assets.

B.decrease stockholders equity and increase liabilities.

C.increase stockholders equity and increase liabilities.

D.decrease stockholders equity and decrease assets.