The stockholders equity section of Taylor's Tables displayed the following balances:

Common Stock - $20 par value, 44,000 shares issued and outstanding$880,000Paid-in Capital in excess of par value, common stock$5,140,000Retained Earnings$4,140,000

The company declared a 6% stock dividend on a day when the stocks market value was $550 per share. The journal entry on this day will include:

Select one:

a. A debit to Retained Earnings for $52,800

b. A credit to Paid-in capital in excess of par value for $1,452,000

c. A credit to Stock Dividends Distributable for $52,800

d. A credit to Stock Dividends Distributable for $1,452,000