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Langley Corporation has 48,000 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price

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Langley Corporation has 48,000 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit accountries are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter o for the amounts) Date Account Tiles and Explanation Debit Credit

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