O 01:08:52 Hide Timer Question 22 --/2 View Policies Current Attempt in Progress The board of directors of Skysong, Inc. declared a cash dividend of $1.60 per share on 46000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The effects of the journal entry to record the payment of the dividend on August 15, 2020, are to increase stockholders' equity and decrease assets. increase stockholders' equity and increase liabilities. decrease liabilities and decrease assets. decrease stockholders' equity and decrease liabilities. Attempts: 0 of 1 used Submit Answer Seve for Later (2) A 3 B31 AM /13/2020 O a $ Type here to search backspare