Which of the following is the correct entry for payment of Preference dividend assuming that the company issued irredeemable preference shares? a. Debit Retained earnings Credit Bank b. Debit Preference dividend payable Credit Bank c. Debit Preference dividend payable Credit Retained earnings od. Debit Bank Credit Preference dividend payable ABC SAOG is having 15,000 cumulative redeemable preferred stock of 10%, OMR 1 par value each outstanding as on 31st December 2019. The company at the end of the year had retained earnings of OMR 45,000 and decided to declare and paid dividends for preferred stock. What will be the preference dividend to be payable at the end of 31st December 2019? a. OMR 46,500 b. OMR 43,500 c. OMR 1,500 d. OMR 4,500