Preferred stock which confers rights to prior periods' unpaid dividends even if they were not declared Called: Noncumulative preferred stock Participating preferred stock Callable preferred stock Cumulative preferred stock Convertible preferred stock Balley Corporation had 50,000 shares of $20 par value common stock outstanding on July day the board of directors declared a 10% stock dividend when the market value of each The entry to record this dividend is: Debit Retained Earnings $135,000; credit Common Stock Dividend Distributable Debit Retained Earnings $135,000; credit Cash $135,000 Debit Retained Earnings $135,000; credit Common Stock Dividend Distributable Paid-In Capital in Excess of par Value, common stock $35,000. Debit Retained Earnings $100,000; credit Common Stock Dividend Distributable No entry is made until the stock is issued