Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury).

Treasury Stock	Building	Common Stock
Additional Paid-in Capital from Common Stock	Cash	Land
Retained Earnings	Common Stock Dividend Distributable	Cash Dividends Payable
Preferred Stock	Equipment	Additional Paid-in Capital from Preferred Stock

Prepare the following two journal entries.

PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345).

• June 30 - Record the declaration of a stock dividend:

• DR
  CR

• July 31 - Record the distribution of the stock dividend:

• DR
  CR