Question 45 3.12 pts A corporation had 50,000 shares of $ 20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $27. The entry to record this dividend is: O Dr. Retained Earnings 135,000; Cr. Cash 135,000 O Dr. Retained Earnings 135,000; Cr. Common Stock Dividend Distributable 135,000 Dr. Retained Earnings 135,000; Cr. Common Stock Dividend Distributable 100,000, Cr. Paid-In Capital in Excess of Par Value, Common Stock 35,000 No entry is made until the stock is issued. Dr. Retained Earnings 100,000; Cr. Common Stock Dividend Distributable 100,000