A Corporation Had 20,000 Shares of $10 Par Value Common

A corporation had 20,000 shares of $10 par value common stock outstanding on Jan 10.Later that day the board of directors declared a 30% stock dividend when the market value of each share was $40.The entry to record this dividend is:

A)
$\begin{array}{|c|r|r|}\hline \text { Retained Earnings } & 60,000 & \\\hline \text { Common Stock Dividend Distributable } & & 60,000 \\\hline\end{array}$
B)
$\begin{array}{|l|r|r|}\hline \text { Retained Earnings } & 60,000 & \\\hline \text { Cash } & & 60,000 \\\hline\end{array}$
C)
$\begin{array}{|l|r|r|}\hline \text { Retained Earnings } & 240,000 & \\\hline \text { Common Stock Dividend Distributable } & & 60,000 \\\hline \begin{array}{l}\text { Contributed Capital in Excess of Par Value, } \\\text { Common Stock }\end{array} & &180,000 \\\hline\end{array}$
D)
$$\begin{array} { | l| c | c | } \hline \text { Retained Earnings } & 240,000 & \\\hline \text { Common Stock Dividend Distributable } & & 240,000 \\\hline\end{array}$$
E) No entry is made until the stock is issued