Entity declared cash dividend on its common stock

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An entity declared a cash dividend on its common stock on Dec. 15, Year 1, payable on Jan. 12, Year 2. How would this dividend affect equity on the following dates?

Dec. 15, Year 1 Dec. 31, Year 1 Jan. 12, Year 2

A. Decrease No Effect Decrease

B. Decrease No Effect No Effect

C. No Effect Decrease No Effect

D. No Effect No Effect Decrease

Reference no: EM131223068

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