Your answer is partially correct. On January 1, 2017. Pronghorn Corp had $1,340,000 of common stock outstanding that was issued at par and retained earnings of $719,000. The company issued 31,000 shares of common stock at par on July 1 and earned net income of $406,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2017, for the following two independent assumptions. (Credit account tities 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.) (a) (b) Par value is $10 and market price is $15. Par value is $5 and market price is $8. No. Account Titles and Explanation Debit Credit (a) Stock Dividends 3496050 Common Stock Dividends Distributable 2330700 Paid-in Capital in Excess of Par Value-Common Stock 1165350 (b) Stock Dividends 1864560 Common Stock Dividends Distributable 1165350 Paid-in Capital in Excess of Par Value-Common Stock 699210