Brief Exercise 11-12 Your answer is partially correct. Try again. Bramble Corp. has 220,000 shares of $9 par value common stock outstanding. It declares a 12% 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. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry, for the account titles and entero for the amounts. Date Account Titles and Explanation Debit Credit Dec. 1 Cash 3520000 Common Stock 1980000 Pald-in Capital in Excess of Par Value-Common Stock 1540000 Dec. 31Cash Dividends 26400 Stock Dividends 422400