The board of directors of Ayayal Corp. declared a cash dividend of $2 per share on 40000 shares of common stock on July 15, 2017. The dividend is to be pald on August 15, 2017. to stockholders of record on July 31, 2017. The correct entry to be recorded on July 15, 2017 will include a debit to Dividends Payable. O credit to Cash Dividends. O credit to Cash debit to Cash Dividends