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Madrid Corporation has 12,000 shares of $40 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October

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Madrid Corporation has 12,000 shares of $40 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stocloholders of record on September 15. The market price of the stock was $52 per share on August 2. Joumalize the entries required on August 2, September 15 , and October 8 . If an amount box does not require an entry, leave it blank. If no entry is required, select " No Entry Required" and leave the amount boxes blank

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