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Johnson & Johnson declares a 3% stock dividend when the market value per share is $150. The company has 2,000,000 shares outstanding. Record the journal

Johnson & Johnson declares a 3% stock dividend when the market value per share is $150. The company has 2,000,000 shares outstanding. Record the journal entry to distribute the stock dividend.

Description	Amount
Market Value per Share	$150
Total Shares Outstanding	2,000,000
Stock Dividends

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