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Prepare journal entries for declaration

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Question - Epic Incorporated has 11,300 shares of $2 par value common stock outstanding. Epic declares a 18% stock dividend on July when the stock's market value is $21 per share. The stock dividend is distributed on July 20. Prepare journal entries for (a) declaration and (b) distribution of the stock dividend. Record the distribution of 18% stock dividend.

Reference no: EM133140186

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