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Risingstar Corporation currently has 131,000 shares outstanding of $3 par value common stock. The stock...

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Accounting

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Risingstar Corporation currently has 131,000 shares outstanding of $3 par value common stock. The stock was originally issued for $13 per share. On March 15, the board of directors declares a 15\% stock dividend when the stock is selling for $18 per share. Which of the following is the correct journal entry to record this transaction? (Do not round intermediate calculations:) A. deba Common Stock Dividend Uistrbutabte \$58, 9bU, debit Yaid - in Capital in Excess of Yar - Commoni tor \$2Y4, 10U and credit Retained Earnings $353,700 B. debit Stock Dividends $353,700 and credit Common Stock Dividend Distributable $353,700 C. debit Paid - In Capital in Excess of Par-Common $353,700 and credit Retained Earnings $353,700 D. debit Stock Dividends $353,700, credit Common Stock Dividend Distributable $58,950 and credit Paid-in Capital in

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