O'Connor Communications, Inc., began 2018 with 350,000 shares of $1 par common stock issued and outstanding. Beginning Paid-in capital in excess of par-common was $610,000, and retained earnings was $790,000. In February 2018, O'Connor Communications, Inc., issued 18,000 shares of stock at $16 per share. In November, when the stock's market price was $20 per share, the board of directors distributed a 10 percent stock dividend. Read the requirements. Requirement 1. Make the journal entries for the issuance of stock for cash and for the declaration and distribution of the 10 percent stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the issuance of common stock for cash. Date Feb Journal Entry Accounts Debit Credit Record the declaration and distribution of the stock dividend. Date Nov Journal Entry Accounts Debit Credit