Risingstar Corporation Currently Has 129,000 Shares Outstanding of $3 Par

Risingstar Corporation currently has 129,000 shares outstanding of $3 par value common stock.The stock was originally issued for $14 per share.On March 15,the board of directors declares a 13% stock dividend when the stock is selling for $22 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 $50,310, debit Paid-In Capital in Excess of Par-Common for $318,630 and credit Retained Earnings $368,940
B) debit Stock Dividends $368,940 and credit Common Stock Dividend Distributable $368,940
C) debit Stock Dividends $368,940, credit Common Stock Dividend Distributable $50,310 and credit Paid-In Capital in Excess of Par-Common $318,630
D) debit Paid-In Capital in Excess of Par-Common $368,940 and credit Retained Earnings $368,940