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5.Johnson Corporation has 160,000 shares of $5 par value common stock outstanding. It declared a 15% stock dividend on July 1 when the market price

5.Johnson Corporation has 160,000 shares of $5 par value common stock outstanding. It declared a 15% stock dividend on July 1 when the market price per share was $13. The shares were issued on July 31 . Instructions Prepare the necessary entries for the declaration and payment of the stock dividend

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