Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 10% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares and none of the preferred shares. In its sixth year, the corporation has the following transactions: Mar. 1 Declares a cash dividend of $3 per share. Mar. 30 Pays the cash dividend. Jul. 10 Aug. 5 Declares a 6% stock dividend when the stock is trading at $20 per share. Issues the stock dividend. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 Retained Earnings Cash Dividends Payable Mar. 30 Cash Dividends Payable Cash Jul. 10 Retained Earnings Common Stock Dividend Distributable Additional Paid-in Capital-Common Stock Aug. 5 Common Stock Dividend Distributable Common Stock 150,000 150,000 150,000 150,000 3,000 X 3,000 3,000 3,000