Epic Inc. has 10,700 shares of $2 par value common stock outstanding. Epic declares a 12% stock dividend on July 1 when the stock's market value is $15 per share. The stock dividend is distributed on July 20. Prepare journal entries for (a) declaration and (b) distribution the stock dividend. View transaction list Journal entry worksheet Record the declaration of a 12% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit July 01 24,075 Retained earnings Common stock dividend distributable Paid-in capital in excess of par value, common stock 3,210 24,073 Record entry Clear entry View general journal