On January 1, Swanson Corporation Had 60,000 Shares of $10

On January 1, Swanson Corporation had 60,000 shares of $10 par value common stock outstanding. On March 17, the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 17. The entry to record the transaction of March 17 would include a

A) credit to Retained Earnings for $27,000.
B) credit to Cash for $117,000.
C) credit to Common Stock Dividends Distributable for $90,000.
D) debit to Common Stock Dividends Distributable for $90,000.