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Prepare the entries for declaration and issuance of stock

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Question - Sunland Corporation has 53,000 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31.

Required - Prepare the entries for the declaration and issuance of the stock dividend.

Reference no: EM132738355

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