Borzilova Company has 150,000 shares of $20 par common stock outstanding on January 1. During the year, the company had the following dividend transactions:

a. On April 7, the company declared a cash dividend of $0.06 per share on common stock to shareholders of record on April 28. The cash dividend is paid on March 10.

b. On August 30, the company declared a 2% stock dividend to stockholders of record on October 20.

The stock certificates for the stock dividend are distributed on October 31.

The market price of the company’s stock was $60 on August 30, $64 on October 20, and $67 on October 31.

Journalize the entries required on each date.