Abc declared a property dividend on may 1, 2021 to be distributed on June 1 2021 the dividend consisted of 10,000 common shares of its investment and XYZ company. The cherres had originally been purchased at four dollars per share and had a one dollar par. The value of the shares on May 1, 2021 is seven dollars per share the value of the shares on June 1, 2021. The date of distribution is nine dollars per share.

prepare all relevant journal entries to record the declaration & distribution of the property dividend