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28 Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,400 shares of GE common stock that Adams had purchased in February

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28 Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,400 shares of GE common stock that Adams had purchased in February for $49,000 as an investment. GE's shares had a market value of $33 per share on the declaration date Prepare the journal entries to record the property dividend on the declaration and payment dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 5 points 8 0853:00 View transaction list 1 Record adjustment of stock to fair value. 2 Record the journal entry on the declaration date. 3 Record the journal entry on the payment date. Credit Note-journal entry has been entered Record entry Clear entry View general journal

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