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On August 15, a corporation's board of directors declared a 10% stock dividend on the corporation's 3,000 outstanding shares of $1 par value common stock.
On August 15, a corporation's board of directors declared a 10% stock dividend on the corporation's 3,000 outstanding shares of $1 par value common stock. The market price of the corporation's stock is $12 per share on August 15. Which of the following is the correct journal entry on August 15th? RETAINED EARNINGS CS TO BE DISTRIBUTED 3,600 3,600 RETAINED EARNINGS 3,600 COMMON STOCK 3,600 RETAINED EARNINGS 3,600 COMMON STOCK 300 APIC CS 3,300 RETAINED EARNINGS 3,600 CS TO BE DISTRIBUTED 300 APIC - CS 3,300
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