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Davis Enterprises has 282,000 shares of $5 par value common stock outstanding. Davis declares a 40% stock dividend on March 2 when the stock's market value is $69 per share. The journal entry for the declaration of the stock dividend is: Multiple Choice Credit Account Title Retained Earnings Common Dividend Payable Debit 564,000 564,000 Credit Account Title Common Stock Dividend Distributable Retained Earnings Debit 564,000 564,000 O Credit Account Title Retained Earnings Common Stock Dividend Distributable Debit 7,783,200 7,783,200 Credit Account Title Retained Earnings Common Stock Dividend Distributable Debit 564,000 564,000 Save & Exit Credit Account Title Retained Earnings Common Dividend Payable Debit 564,000 564,000 Credit Account Title Common Stock Dividend Distributable Retained Earnings Debit 564,000 564,000 Credit Account Title Retained Earnings Common Stock Dividend Distributable Debit 7,783,200 7,783,200 Debit Credit Account Title Retained Earnings Common Stock Dividend Distributable 564,000 564,000 deo No journal entry is required for the declaration of a stock dividend