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Hoffman Industries is issuing a 9% stock dividend. The Company has 12,000 shares outstanding and 15,000 shares issued. The stock has a par value of

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Hoffman Industries is issuing a 9% stock dividend. The Company has 12,000 shares outstanding and 15,000 shares issued. The stock has a par value of $3 and a fair market value of $55. How should Hoffman Industries record the issuance of the stock dividend

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