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Flint Corporation has outstanding 405,000 shares of $ 10 par value common stock. The corporation declares a 100% stock dividend when the fair value of

Flint Corporation has outstanding 405,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $70 per share.

Prepare the journal entries for both the date of declaration and the date of distribution

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