Global Corporation had 46,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 25% stock dividend when the market value of each share was $27, The entry to record this dividend is: O Debit Retained Earnings $310,500; credit Common Stock Dividend Distributable $310,500. O Debit Retained Earnings $310,500: credit Cash $310.500 O Debit Retained Earnings $230,000, credit Common Stock Dividend Distributable $230.000. O No entry is made until the stock is issued. O Debit Retained Earnings $310,500; credit Common Stock Dividend Distributable $230,000 credit Paid-in Capital in Excess of Par Value, Common Stock $80,500