Kader Co. paid a total of $35,000 in dividends during the current year. The entry...
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Accounting
Kader Co. paid a total of $35,000 in dividends during the current year. The entry needed to close the dividends account is:
Select one:
a. Debit Income Summary and credit Cash for $35,000
b. Debit Dividends and credit Cash for $35,000
c. Debit Income Summary and credit Dividends for $35,000
d. Debit Retained Earnings and credit Dividends for $35,000
e. Debit Dividends and credit Retained earnings for $35,000
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