On December 1, Garden of Eat'n, Inc., declared a $0.25 per share dividend to its common shareholders to be paid to those on record at the close of business December 31. The dividend is to be paid on January 7 of the following year. On which date should Dividends Payable be credited?
a. January 7
b. December 31
c. December 1
Answer: c. December 1
Business
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