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Epic Incorporated has 1 1 , 2 0 0 shares of $ 2 par value common stock outstanding. Epic declares a 1 7 % stock

Epic Incorporated has 11,200 shares of $2 par value common stock outstanding. Epic declares a 17% stock dividend on July 1 when the stocks market value is $20 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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