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Prepare the journal entries for the company

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Reference no: EM132571820

Question - Monty Corporation has 460,000 common shares outstanding. The corporation declares a 7% stock dividend at the common shares' fair value of $32 per share. (Their carrying value is $15 per share).

Required - Prepare the journal entries for the company for both the date of declaration and date of distribution.

Reference no: EM132571820

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