Brief Exercise 18-12 (Algo) Property dividend [LO18-7] Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,600 shares of GE common stock that Adams had purchased in February for $68,800 as an investment. GE's shares had a market value of $41 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)