Your answer is partially correct. On January 1, 2022, Marigold Corp. had $1,160,000 of common stock outstanding that was issued at par and retained earnings of $850,000. The company issued 24,000 shares of common stock at par on July 1 and earned net income of $513,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. [ Customize and control Google Chrome equired, select "No Entry" for the account titles and enter O for the amounts.) (a) Par value is $10 and market price is $17. (b) Par value is $5 and market price is $9. No. Account Titles and Explanation (a) Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par Value-Common Stock (b) Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par Value-Common Stock Debit 3421760 1811520 Credit 2012800 1408960 1006400 805120 Your answer is partially correct. On January 1, 2022, Marigold Corp. had $1,160,000 of common stock outstanding that was issued at par and retained earnings of $850,000. The company issued 24,000 shares of common stock at par on July 1 and earned net income of $513,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. [ Customize and control Google Chrome equired, select "No Entry" for the account titles and enter O for the amounts.) (a) Par value is $10 and market price is $17. (b) Par value is $5 and market price is $9. No. Account Titles and Explanation (a) Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par Value-Common Stock (b) Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par Value-Common Stock Debit 3421760 1811520 Credit 2012800 1408960 1006400 805120