On January 1, Blue Spruce Corp. had 98000 shares of $10 par value common stock outstanding. On May 7, the company declared a 10% stock dividend to stockholders of record on May 21. Market value of the stock was $14 on May 7. The stock was distributed on May 24. The entry to record the transaction of May 24 would include a debit to Stock Dividends for $39200. debit to Common Stock Dividends Distributable for $137200. credit to Paid-in Capital in Excess of Par Value for $39200. credit to Common Stock for $98000. Metlock, Inc. had a balance in the Accounts Receivable account of $776000 at the beginning of the year and a balance of $857000 at the end of the year. Net credit sales during the year amounted to $3592600. The accounts receivable turnover was 4.4 times. 4.2 times. 2.2 times. 4.6 times. Sheridan Company had net credit sales of $13011000 and cost of goods sold of $11622000 for the year. The average inventory for the year amounted to $1490000. The inventory turnover for the year is 8.7 times. 1.1 times. 7.8 times. 0.9 times. Skysong, Inc. had net credit sales of $13014000 and cost of goods sold of $9306000 for the year. The average inventory for the year amounted to $1365000. The average days in inventory during the year was approximately 122 days. 54 days. 262 days. 38 days. Boise Company's investments in equity securities at December 31 show total cost of $202,000 and total fair value of $210,000. Boise has less than a 20% ownership interest in the equity securities. Prepare the adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit