Which statement about cash dividends is$$ correct?

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Part $1$

A$.$

The date of declaration is the date on which the Board of Directors declares a dividend and the company has an obligation to pay the dividend.

B$.$

The company must record a journal entry on the date of$$ declaration, the date of record and the date of payment.

C$.$

The date of declaration is the date that determines which shareholders will receive the dividends.

D$.$

The date of record is the date when the funds for the dividend are transferred to shareholders.