Monty Corporation has 460,000 common shares outstanding. The corporation declares a 7% stock dividend at the common shares'fair value of $32 per share. ( Their carrying value is $15 per share).

prepare the journal entries for the company for both the date of declaration and date of distribution. ( Credit accounts titles are automatically indebted when the amount is entered. Don't indebt manually. If no entertainer is required, select NO ENTRY or 0 for the amounts.)

a)- Declaration date

A/c titles & explanation. Dr. Cr.

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2)- distribution date-

A/c titles & explanation. Dr. Cr.

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