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3. (10 POINTS). Bonneau Corporation has 100,000 shares of $10 par common stock outstanding. On July 31, the Board of Directors declared a 5%

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3. (10 POINTS). Bonneau Corporation has 100,000 shares of $10 par common stock outstanding. On July 31, the Board of Directors declared a 5% stock dividend to be issued on Aug 31 to stockholders of record August 15. The market price of the stock was $35 a share on July 31. Journalize the entries required on July 31. Aug 15, and Aug 31. Date: Debit Credit

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