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The correct closing entry for Dividends of $25000 is: a. Dr Retained Earnings $25 000; Cr Dividends $25000. b. Dr Dividends $25000; Cr Retained Earnings

image text in transcribed The correct closing entry for Dividends of $25000 is: a. Dr Retained Earnings $25 000; Cr Dividends $25000. b. Dr Dividends $25000; Cr Retained Earnings $25000. c. Dr Income Summary $25000; Cr Dividends $25000. d. Dr Dividends $25000; Cr Income Summary $25000

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