The journal entry for cash dividend of P 1.00 per share on 12,000 ordinary shares issued shall be

Group of answer choices

A. Debit Dividend Expense P 12,000; credit Cash P 12,000.

B. Debit Dividend Expense P 12,000; credit Dividend Payable P 12,000.

C. Debit Retained Earnings P 12,000; credit Dividend Payable P 12,000.

D. Debit Dividend Payable P 12,000; credit Cash P 12,000.