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11. On January 1, Ripken Corporation had 80,000 shares of $10 par value common stock outstanding. On March 7 the company declared a 10% stock

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11. On January 1, Ripken Corporation had 80,000 shares of $10 par value common stock outstanding. On March 7 the company declared a 10% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 7. The entry to record the transaction of March 7 would include a a. debit to Stock Dividends for $104,000. b. credit to Cash for $104,000. C. credit to Common Stock Dividends Distributable for $104,000. d. credit to Common Stock Dividends Distributable for $24,000

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