Answer:
e. Debit Retained earning $49,280 Credit Common stock dividend distributable $35,200
Credit Paid in capital in excess of par value(Common stock) $14,080
Step-by-step explanation:
The journal entry is as follows:
Retained earnings (3,520 shares × $14)
Dr $49,280
_______ Common stock dividend distributable (3,520 shares × $10)
Cr $35,200
_______ Paid in capital in excess of par value ($49,280 - $35,200)
Cr $14,080