The board of directors of Tamarisk. Inc. declared a cash dividend of $1.70 per share on 44000 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 correct entry to be recorded on July 15, 2020, will include a credit to Cash debit to Dividends Payable credit to Cash Dividends. debit to Cash Dividends