Sheffield Corporation has 50,000 shares of $11 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $19. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 1 Cash Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Dec. 31 Common Stock Dividends Distributable Common Stock eTextbook and Media List of Accounts. Debit 142500 67500 Credit 142500