Question: On July 1 5 , 2 0 2 4 , the board of directors of Prior Limited declared a cash dividend of $ 0 .

On July 15,2024, the board of directors of Prior Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15,2024, to shareholders of record on July 31,2024. The correct entry to be recorded on July 15,2024 will include aSelect one: a. credit to Retained Earnings. b. debit to Dividends Declared.O c. credit to Cash. d. debit to Dividends Payable.

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