On January 1, Marigold Corp. had 77000 shares of $10 par value common stock outstanding. On May 7 the company declared a 5% stock dividend to stockholders of record on May 21. Market value of the stock was $14 on May 7. The entry to record the transaction of May 7 would include

a.) a debit to Stock Dividends for $53900.

b.) credit to Cash for $53900.

c.) credit to Common Stock Dividends Distributable for $15400.

d.) credit to Common Stock Dividends Distributable for $53900.