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Belkin Incorporated has 103,000 shares of $3 par value common stock outstanding. Belkin declares a 43% stock dividend on March 2 when the stocks market

Belkin Incorporated has 103,000 shares of $3 par value common stock outstanding. Belkin declares a 43% stock dividend on March 2 when the stocks market value is $75 per share. Prepare the journal entry for declaration of the stock dividend.

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