On January 1, Swanson Corporation Had 80,000 Ordinary Shares with a €10

On January 1, Swanson Corporation had 80,000 ordinary shares with a €10 par value outstanding. On March 17, the company declared a 15% share dividend to shareholders of record on March 20. Market value of the shares was €13 on March 17. The entry to record the transaction of March 17 would include a

A) credit to Cash Dividends for €36,000.
B) credit to Cash for €156,000.
C) credit to Ordinary Share Dividends Distributable for €120,000.
D) debit to Ordinary Share Dividends Distributable for €120,000.