TellCom has 140,000 shares of $35 par value common stock outstanding. On April 8, 2020...
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TellCom has 140,000 shares of $35 par value common stock outstanding. On April 8, 2020 the company declared a 55% stock dividend. The current market value of the stock was $62 per common share. The company issued the shares of stock to stockholders on June 1, 2020. On June 1, the journal entry should include which of the following: Select one: a. A debit to Stock Dividends Distributable for $2,695,000 ob. A credit to Stock Dividends Distributable for $4,774,000 c. A debit to Retained Earnings for $2,695,000 d. A debit to Stock Dividends Distributable for $4,774,000
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