(Solved):  Westlake Ltd declared a cash dividend of $2.50 per share on 22,000 ordinary shares on 15 July ...

 Westlake Ltd declared a cash dividend of $2.50 per share on 22,000 ordinary shares on 15 July 2019. The dividend is to be paid on 15 August 2019 to all shareholders. The correct entry to be recorded on 15 August 2019 will include a:

a.

debit to retained earnings

b.

debit to dividends payable

c.

credit to dividends payable

d.

credit to retained earnings