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On January 1, Happy Corporation had 2,000,000 shares of $12 par value common stock outstanding. On May 31 the company declared a 15% stock dividend.

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On January 1, Happy Corporation had 2,000,000 shares of $12 par value common stock outstanding. On May 31 the company declared a 15% stock dividend. Market value of the stock was $18 per share. Prepare the journal entry: a) For the declaration of the dividend. c) For the issuance of the dividend

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