1. Landess Corporation currently has 137,000 shares outstanding of $5 par value common stock. The stock was originally issued for $18 per share. On March 15, the board of directors declares a 14% stock dividend when the stock is selling for $21 per share. Which of the following is the correct jounral entry to recod this transaction?

a. Debit stock Dividends $402,780 and credit common stock dividend distributable $402,780

b. debit paid - in capital in Excess of par-Common $402,780

c. debit common stock dividend distributable $95,900, debit paid- in captial in excess of par- Common for $306,880 and credit Retained Earnings $402,780

d. debit stock dividends $402,780, credit common stock dividend distrubutable $95,000 and credit paid- in capital in excess of par- common $306,880.