On January 1, Sheffield Corporation had 145000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a O credit to Cash for $326250. O credit to Common Stock Dividends Distributable for $108750. O debit to Stock Dividends for $326250. O credit to Common Stock Dividends Distributable for $326250.

On January 1 , Sheffield Corporation had 145000 shares of $10 par value common stock outstanding. On June 17 , the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17 . The entry to record the transaction of June 17 would include a credit to Cash for $326250. credit to Common Stock Dividends Distributable for $108750. debit to Stock Dividends for $326250. credit to Common Stock Dividends Distributable for $326250