Miles Corp. declares and distributes a $3-$for$-1$ stock split effected in the form of a $200\%$ stock dividend. Miles had $10,000$ shares of $$1$ par value common stock valued at $$8$ per share before the stock split. If Miles does not capitalize retained earnings, the journal entry required to record the split would include a debit to

Multiple choice question.

common stock $$20,000.$

stock investment $$30,000.$

retained earnings $$30,000.$

paid$-$in capital in excess of par $$20,000.$