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Epic Inc. has 11,800 shares of $2 par value common stock outstanding. Epic declares a 23% stock dividend on July 1 when the stocks market

Epic Inc. has 11,800 shares of $2 par value common stock outstanding. Epic declares a 23% stock dividend on July 1 when the stocks market value is $26 per share. The stock dividend is distributed on July 20. Prepare journal entries for (a) declaration and (b) distribution of the stock dividend.

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