A corporation has 200,000 shares of $10par value common stock outstanding. The following selected transactions related to the company's stock took place during the current year:

Apr. 15	Declared a 40% stock dividend to stockholders of record on May 1, to be issued May 10. The current market valued is $15 per common share.
May 1	Date of record.
May 10	Issued the common stock dividend.

Prepare the Journal entries to record these transactions