Entries for Stock Dividends Gilkes Corporation has a balance of $200,000 in retained earnings. On June 30, it declared a 10% stock dividend on its 50,000 no par value common shares. The current fair market value of its shares is $40 per share. The number of shares to be issued is 5,000. The journal entry to record this declaration would be: [2 Marks] Particulars When the stock dividend is issued, the journal entry will be: Particulars Debit Credit [2 Marks] Debit Credit