what is the entry on the date of declaration of share dividends?

What is the entry on the date of declaration of share dividends? The shareholders' equity section of PapasaAko Company on December 31, 2020 appear as follows: Ordinary share P50 par 100,000 shares issued and outstanding P5,000,000 Share premium on ordinary shares 1,000,000 Accumulated profits 10,000,000 On December 31, 2020, the company declared 30% share dividends to the shareholders of record on January 15, 2021 payable on January 31, 2021. Assume that of the share dividends declared, 27,000 shares relate to full shares issued while 3,000 relate to the fractional shares issued. Also assume that 2,800 of the fractional shares were exercised at par while the rests were not exercised. Dr Retained earnings P1,500,000; Cr Share dividends payable P1,500,000 O Dr Retained earnings P2,700,000; Cr Share dividends payable P2,700,000 )Dr Share dividends payable P1,500,000; Cr Retained earnings P1,500,000 No entry is required An entity declared a cash dividend on a certain date payable on another date. Retained earnings would O increase on the date of declaration O not be affected on the date of declaration O not be affected on the date of payment O decrease on the date of payment