The board of directors of Ayayai Corp. declared a cash dividend of $1.50 per share on 40000 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 Dividends. credit to Cash. O O O O debit to Dividends Payable. debit to Cash Dividends