Smith has 300,000 shares of common stock outstanding with a par value of $3 per share. Smith authorized a 10% stock dividend when the market value was $8 per share. A journal entry for the stock dividend would require: No entry is needed. a credit to Paid-in Capital in Excess of Par for $150,000. None of these. a credit to Common Stock for $240,000. a debit to Retained Earnings for $90,000.