QUESTION 3 On 1 June 2017, Whiting Technologies Ltd declared a $150 000 cash dividend to be distributed to its shareholders of record on June 15, 2017 as follows: half to its preferred shareholders and half to its ordinary shareholders. The dividend will be paid on 1 July 2017. The required journal entry on 1 June includes a: O $75 000 credit to dividends payable O $150 000 credit to ordinary share capital $150 000 debit to retained earnings O $150 000 debit to dividends payable