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A company declares a 10% stock dividend on their 10,000 shares of $5 par common...

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Accounting

A company declares a 10% stock dividend on their 10,000 shares of $5 par common stock. The market price is $8 on the declaration date. Which of the following is in the entry on the declaration date?

A A credit to Common Stock for $8,000

B A credit to Common Stock for $5,000

C A debit to Stock Dividends for $8,000

D A debit to Stock Dividends for $5,000

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