Complete journal entries 1 & 2 to record the declaration of 16% stock dividend and distribution of 16% stock dividend.

The stockholders' equity of TVX Company at the beginning of the day on February 5 follows Common stock-$20 par value, 150,000 shares authorized, 59,000 shares issued and outstanding $1,180,008 Paid-in capital in excess of par value, common stock 525,800 675,8ee $2,380,000 Retained earnings Total stockholders' equity On February 5, the directors declare a 16% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $35 per share on February 5 before the stock dvidend. The stock's market value s $30 per share on February 28. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 2 Record the dedaration of 16% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 05 Record entry Clear entry View general journal Prev 3 45 of 7