27) Charter Schools, Inc. is authorized to issue 500,000 shares of $2 par common stock. The company issued 106,000 shares at 56 per share. When the market price of common stock was $10 per share, Charter declared and distributed a 10% stock dividend. Later, Charter declared and paid a 50.10 per share cash dividend. Prepare the journal entries to record these transactions. Explanations are not required