On January $1,2020,$ Larkspur Corporation had $$2,080,000$ of $$10$ par value common stock outstanding that was issued at par and retained earnings of $$1,100,000.$ The company issued $220,000$ shares of common stock at $$12$ per share on July $1.$ On December $15,$ the board of directors declared a $15\%$ stock dividend to stockholders of record on December $31,2020,$ payable on January $15,2021.$ The market value of Larkspur Corporation stock was $$15$ per share on December $15$ and $$16$ per share on December $31.$ Net income for $2020$ was $$535,000.$

$(a1)$

Journalize the issuance of stock on July $1$ and the declaration of the stock dividend on December $15.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" fget the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

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