L04. How are dividends and stock splits accounted for? Journalize for the 1) declaration of cash dividend of $1,000 and 2) payment of cash dividend: a) Accounts and Explanation Debit Credit Date 1) 2) b) Why might some companies issue stock dividends instead of cash dividends? ABC Company currently has 100,000 shares of common stock with a par value of $2 before a 2- for-1 split. What is the number of shares and par value after the split? c)