Your business declared a $200 dividend on August 31, payable in September. On August 31, which of the following adjusting journal entries should be made?

a. Debit dividends declared for $200; credit dividends receivable for $200.

b. Debit dividends declared for $200; credit dividends payable for $200.

c. Debit dividends receivable for $200; credit dividends declared for $200.

d. Debit dividends payable for $200; credit dividends declared for $200.