The Board of Directors of pool company declared cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2020 dividends 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

to decrease stockholders equity and increase liabilities

decreased stockholders equity and decrease assets

increase stockholders equity and increase liabilities

increase stockholders equity and decrease assets