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2. Tamara Corporation has 5,000 shares of $10 par value common stock outstanding and retained earnings of $97,000. The company declares a cash dividend of

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2. Tamara Corporation has 5,000 shares of $10 par value common stock outstanding and retained earnings of $97,000. The company declares a cash dividend of $2 per share and an 88 stock dividend. The market price of the stock at the declaration date is $24 per share. REQUIRED 1. Give the general Journal entries for (1) the declaration of dividends and (2) the payment for issuance) of the dividends

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