Landess Corporation Currently Has 132,000 Shares Outstanding of $5 Par

Landess Corporation currently has 132,000 shares outstanding of $5 par value common stock.The stock was originally issued for $20 per share.On March 15,the board of directors declares a 10% stock dividend when the stock is selling for $26 per share.Which of the following is the correct journal entry to record this transaction? (Do not round intermediate calculations. )

A) debit Common Stock Dividend Distributable $66,000,debit Paid-In Capital in Excess of Par-Common for $277,200 and credit Retained Earnings $343,200
B) debit Stock Dividends $343,200 and credit Common Stock Dividend Distributable $343,200
C) debit Stock Dividends $343,200,credit Common Stock Dividend Distributable $66,000 and credit Paid-In Capital in Excess of Par-Common $277,200
D) debit Paid-In Capital in Excess of Par-Common $343,200 and credit Retained Earnings $343,200