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On October 10, the board of directors declared a 10% stock dividend to be distributed on October 31 to shareholders of record on October 25. Prior to the dividend, the company had 12,000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. A. Prepare the journal entries for the declaration and distribution of the stock dividend.
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On October 10, the board of directors declared a 10% stock dividend to be distributed on October 31...
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