Global Corporation had 45,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $28. The entry to record the dividend declaration is Multiple Choice No entry is made until the stock is issued. Debit Retained Earnings $126,000; credit Common Stock Dividend Distributable $126,000 Debit Retained Earnings $126,000; credit Common Stock Dividend Distributable $90,000; credit Paid-In Capital in Excess of Par Value, Common Stock $36,000. Debit Retained Earnings $126,000; credit Cash $126,000. Debit Retained Earnings $90,000; credit Common St $90,000 Stock Dividend Distributable