On January 1, 20x6, Susie's Plumbers, Inc. declared a $1.00 per share dividend payable on February 1, to holders of record on January 15. Before the
dividend was declared, the company had 100,000 shares of $10 par value stock outstanding. On the date of declaration, the journal entry to record the
dividend would include
credit to retained earnings of $10,000.
debit to retained earnings of $100,000.
There would be no journal entry on this date.
debit to dividends payable of $ 100,000.
None of the above