As of January 1, 2020, MWR Corporation had 60,000 shares of its $1 par value common stock outstanding. On July 1, the company issued an additional 4,000 shares. On October 1, they declared a 14% stock dividend. On that date, its $1 par common stock had a market price of $8 per share. The journal entry to be made on October 1 is:

A.

Dr. Stock Dividends 71,680, Common Stock Dividend Distributable 64,000 / Cr. Paid in Capital in Excess of Par- Common Stock 7,680

B.

Dr. Stock Dividends 67,200 / Cr. Common Stock Dividend Distributable 60,000, Paid in Capital in Excess of Par- Common Stock 7,200

C.

Dr. Stock Dividends 71,680 / Cr. Common Stock Dividend Distributable 64,000, Paid in Capital in Excess of Par- Common Stock 7,680

D.

Dr. Stock Dividends 71,680 / Cr. Common Stock 64,000, Paid in Capital in Excess of Par- Common Stock 7,680

E.

Dr. Stock Dividends 67,200 / Cr. Common Stock 60,000, Paid in Capital in Excess of Par- Common Stock 7,200