Novak Corporation had $575,000$ common shares outstanding on April $30,2024.$ On May $1,2024,$ the company announced a $4\%$ stock

dividend at their fair value. The fair value of the shares on the date of declaration was $$4/$share$.$ The stock dividend was distributed on

May $15.$

Prepare the journal entries to record these transactions. $($List all debit entries before credit entries. Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the

amounts. Record journal entries in the order presented in the problem.$)$