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E14-2 Hunter Racing Motors is authorized to issue 500,000 shares of $1 par common stock. The company issued 80,000 shares at $4 per share, and

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E14-2 Hunter Racing Motors is authorized to issue 500,000 shares of $1 par common stock. The company issued 80,000 shares at $4 per share, and all 80,000 shares are outstanding. When the market price of common stock was $5 per share, Hunter distributed a 10% stock dividend. Later, Hunter declared and paid a $0.50 per share cash Dividendo Icyuireu 1. Journalize the distribution of the stock dividend. 2. Journalize both the declaration and the payment of the cash dividend

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