Belkin Incorporated has 109,000 shares of $3 par value common stock outstanding. Belkin declares a 49% stock dividend on March 2 when the stock's market value is $81 per share.

Prepare the journal entry for declaration of the stock dividend.

Belkin Incorporated has 109,000 shares of \$3 par value common stock outstanding. Belkin declares a 49\% stock dividend on March 2 when the stock's market value is $81 per share. Prepare the journal entry for declaration of the stock dividend