54) Refer to Table 14-1. The journal entry will require a debit to retained earnings for: A) $10,000 B) $12,000 C) $20,000 D) $24,000 The board of directors declares a 10% stock dividend. There are 20,000 common shares authorized and 10,000 outstanding common shares. The current market price of the shares is $12 per share; the average issue price was $10 per share. 54) Refer to Table 14-1. The journal entry will require a debit to retained earnings for: A) $10,000 B) $12,000 C) $20,000 D) $24,000 55) Refer to Table 14-1. The entry to distribute the shares will require a: A) debit to common shares for $10,000 B) debit to common stock dividend distributable for $10,000 C) debit to common stock dividend distributable for $12,000 D) debit to retained earnings for $24,000