Epic Incorporated has 10,200 shares of $2 par value common stock outstanding. Epic declares a 7% stock dividend on July 1 when the stocks market value is $10 per share. The stock dividend is distributed on July 20.

Prepare journal entries for (a) declaration and (b) distribution of the stock dividend.

Journal entry worksheet Record the declaration of a 7% stock dividend. Note: Enter debits before credits. Journal entry worksheet Record the distribution of 7% stock dividend. Note: Enter debits before credits