Aler looking into debt financing treough notes, morlgoga, and bonds payable, Calla Canoe Company decides to raise addional captal for a planned business expansion. The company wil be able (Click the icon to vew tre varsactions) Reast the Dec. 20: Declared a 6% common stock dividend when the market value of the stock was $8.00 per share. \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multirow[t]{4}{*}{ Dec. 20} & Stock Dividends & & \\ \hline & Common Stock Dividend Distributable & & \\ \hline & Paid-In Capital in Excess of Par-Common & & \\ \hline & Doclared a 6% stock dividend. & & \\ \hline \end{tabular}