Which of the following statements about dividend transactions is (are) correct? Select only correct statements, incorrect statements are penalized."

A journal entry CREDITING retained earnings is recorded on the date of payment .

Shareholder owning the stock on the date of record receive the dividend.

A journal entry CREDITING retained earnings is recorded on the date of record.

A journal entry DEBITING dividends payable is recorded on the date of payment.

A journal entry DEBITING retained earnings is recorded on the date of of payment .