A corporation reported the following equity section on its current balance sheet.The common stock is currently selling for $12.00 per share. 
Which of the following would be included in the entry to record the distribution of a 15% stock dividend?
A) Common Stock-$5 Par Value would be credited for $37,500.
B) Retained Earnings would be debited for $35,000.
C) Paid-In Capital in Excess of Par-Common is debited for $35,000.
D) Retained Earnings would be credited for $60,000.
Correct Answer:
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