Urgent

A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12.000 common shares outstanding. The journal entry to record the payment of the cash dividend is: O Debit Dividend Expense $12,000 credit Cash $12,000. Debit Dividend Expense $12.000 credit Common Dividend Payable $12.000. Debit Common Dividend Payable $12,000 credit Cash $12,000, C Debit Retained Earnings $12,000 credit Common Dividend Payable $12.000 Debit Common Dividend Payable $12.000; credit Retained Earnings $12.000