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Journalize the entries required on February

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Problem - Entries for Stock Dividends

Arroyo Corporation has 100,000 shares of $60 par common stock outstanding. On February 8, Arroyo Corporation declared a 6% stock dividend to be issued April 11 to stockholders of record on March 10. The market price of the stock was $94 per share on February 8. Journalize the entries required on February 8, March 10, and April 11.

Reference no: EM132683249

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