On July 1, 2015, ABC Inc. had outstanding 10,500 common shares (originally sold at $17); the quoted market price currently is $21. The company declared and issued a 20% common stock dividend. Required: 1. Prepare the journal entry: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record Stock Dividend Note: Enter debits before credits. C D A Debit Credit S.No/Date Account Title 1