A company declares a cash dividend on its common stock on December 24, Year One, payable to owners of record on January 2, Year Two, with checks to...

The company will have a liability on its December 31, Year One balance sheet and the owners will record a receivable on their December 31, Year One balance sheet.

d) Both the revenue and the dividend paid will be recorded by the two companies on January 9, Year Two when payment is made.

I think that the correct answer is d.