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Record the dividend declaration in a journal entry

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Reference no: EM13510053

On March 1st, the directors of a corporation declared a 10% stock dividend distributable on March 31st to shareholders of record on March 15th. The stock's market value is $25 on March 1st (just prior to the dividend) and $35 on March 31st. Par Value is .01 and there are 1,000 shares outstanding. Record the dividend declaration in a journal entry.

Reference no: EM13510053

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