Crane Corporation has51,500shares of $11par value common stock outstanding. It declares a15% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31.

Prepare the entries for the declaration and issuance 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 enter 0 for the amounts.)