On January 1, Soft Corporation had 80,000 shares of $10 par value

On January 1, Soft Corporation had 80,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a

• credit to Common Stock Dividends Distributable for $60,000.
• debit to Stock Dividends for $180,000.
• credit to Cash for $180,000.
• credit to Common Stock Dividends Distributable for $180,000.

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