Trinity Manufacturing declared a 10% stock dividend when it had 150,000 shares of $3 par value common stock outstanding. The market price per common share was $11 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to:
Paid-in Capital in Excess of Par - CS for $120,000.
Retained Earnings for $45,000.
Common Stock Dividends Distributable for $180,000.
Common Stock for $45,000.