Sovod 0 Help Save & Exit Global Corporation had 55,000 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 $25. The entry to record the dividend declaration is: Multiple Choice O Debit Retained Earnings $137,500, credit Common Stock Dividend Distributable $110,000, credit Paid In Capital in Excess of Par Value, Common Stock $27,500. Debt Retained Earnings $137,500, credit Cash $137.500. No entry is made until the stock is issued M to search Sawd Help Save & EX Debit Retained Earnings $137,500, credit Common Stock Dividend Distributable $110,000, credit Paid In Capital in Excess of Par Value, Common Stock $27,500. O Debit Retained Earnings $137.500, credit Cash $137,500 No entry is made until the stock is issued. Debit Retained Earnings $137.500, credit Common Stock Dividend Distributable $137.500 o Debit Retained Earnings $110.000 credin Common Stock Dividend Distributable $110,000 2 99 ere to search