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Bridgeport Corp. has 225,000 shares of $9 par value common stock outstanding. It declares an 11% stock dividend on December 1 when the market price

Bridgeport Corp. has 225,000 shares of $9 par value common stock outstanding. It declares an 11% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31.

Prepare the entries for the declaration and distribution of the stock dividend

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