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Stella, Inc. has 240,000 shares of $5 -par common stock outstanding. They have declared a...

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Accounting

Stella, Inc. has 240,000 shares of $5 -par common stock outstanding. They have declared a 10% stock dividend. The current market price of the common stock is $11/share. What is the amount that will be debited to Retained Earnings on the date of declaration? Select one:

$384,000

$132,000

$264,000

120,000

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