Declared a cash dividend.

ec$.20$: Declared a $6\%$ common stock dividend when the market value of the stock was $$6\mathrm{.}00$ per share.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.20,\backslash$table$[[$Stock Dividends$],[$Common Stock Dividend Distributable$]],90,000,],[,$Paid$-$In Capital in Excess of Par$-$Common,,$30,000],[,,,60,000],[,$Declared a $6\%$ stock dividend.,,$]]$

Dec. $31$: Paid the cash dividends.