On January 1, 2017, Frontier Corporation had $1,125,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,500 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2017, for the following independent assumptions.

On January 1. 2017, Froner Corporation had $1,125,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,500 shares of common stock at par on July 1 and earned net income of $395,000 for the year Journal ze the declaration o a 15% stock d vidend on December 10, 2017, or the ollowing independent assumptions. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) (b) Par value is $10, and market price is $18. Par value is $5, and market price is $20 No. Account Titles and Explanation Debit Credit