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journalized the declaration of the cash dividends at December 31 2017 using the assumption VIl-Chetola Corporation has 120,000 shares of $5 par value common stock

journalized the declaration of the cash dividends at December 31 2017 using the assumption
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VIl-Chetola Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15% stock dividend on June 1 when the market price per share was S13. The shares were issued on June 30. chess Instructions Prepare the necessary entries for the declaration and payment of the stock dividend

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