Ayayai Corp. has $320,000$ shares of $$10$ par value common stock outstanding. It declares a $14\%$ stock dividend on December $1$ when the market price per share is $$17.$ The dividend shares are issued on December $31.$

Prepare the entries for the declaration and distribution of the stock dividend. $($Record journal entries in the order presented in the problem. List all debit entries before credit entries. Credit account titles are automatipally indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit