What the entry recorded by the company on april five

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Problem 1: On February 16, Hawthorne Co. declares a $1.36 dividend to be paid on April 5. There are 1,900,000 shares of common stock issued and outstanding. The entry recorded by the company on April 5 includes a debit to:

Multiple Choice

Option 1: A debit to Dividends Payable and a credit to Cash for $2,720,000.
Option 2: A debit to Dividends and a credit to Dividends Payable for $2,584,000.
Option 3: A debit to Dividends Payable and a credit to Cash for $2,584,000.
Option 4: A debit to Dividends and a credit to Dividends Payable for $2,720,000.

Reference no: EM132714189

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