Baker Corporation has 500,000 shares of common stock outstanding. On May 10, the board of directors declared a $0.60 per share cash dividend, to be paid to stockholders of record on May 25. The dividend was distributed on June 6. The proper journal entry to record on June 6 is: A) Dividends Expense 300,000 Cash 300,000 B) Dividends Payable 300,000 Cash 300,000 C) Retained Earnings 300,000 Cash 300,000 D) Dividends Payable 300,000 Retained Earnings