On January 1, 2015, Frontier Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.

Journalize the declaration of a 15% stock dividend on December 10, 2015, for the following independent assumptions.

A. Par value is $10, and market price is $18.

B. Par value is $5, and market price is $20.

Date	Account Titles			Debit	Credit
(a)
(b)