Woodland Inc.. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on Sept 9 to all stockholders of Record on August 15....

Extracted text: Woodland Inc.. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on Sept 9 to all stockholders of Record on August 15. What is the Journal entry that should be generated on August 12 O No Entry Required O Dividends Payable S2.000.000 Cash $2 000 000 O Retained Earnings $2,000,000 Cash $2,000 000 O Retained Earnings $2.000.000 Dividends Payable S2 000,000