Silver Corp. declares a 15% stock dividend to its shareholders on 1/18. On that date, the company had 15,000 shares issued and 12,000 shares outstanding. Silver Corp. common stock has a par value of $0.50 and a fair market value of $12.75. Silver Corp. distributed the stock the dividend to its shareholders on 1/22. On 2/12 Silver Corp. declares a 2 for 1 stock split. ______________________ What journal entry will Silver Corp. record on 2/12, when the stock split is declared?

N/A; No journal entry is required.

Dr. Dividend Expense $6,000 Cr. Common Stock $6,000

Dr. Stock Dividend Distributable $6,000 Cr. Dividends Payable $6,000

Dr. Stock Dividend Distributable $6,000 Cr. Common Stock $6,000