On January 1 , the board of directors of Zion, Inc. declare a

10%

stock dividend. On this date, there were 10,000 shares of

$1

par value stock issued and outstanding and the market value was

$5

per share. On March 15 , the date of payment, Zion issued the stock. The entry necessary on March 15 would include a (credit/debit) to Common Stock Dividends distributable for\ debit;

$5,000

\ debit;

$1,000

\ credit;

$5,000

\ credit;

$1,000

On January 1, the board of directors of Zion, Inc. declare a 10% stock dividend. On this date, there were 10,000 shares of $1 par value stock issued and outstanding and the market value was $5 per share. On March 15 , the date of payment, Zion issued the stock. The entry necessary on March 15 would include a (credit/debit) to Common Stock Dividends distributable for debit; $5,000 debit; $1,000 credit; $5,000 credit; $1,000