On October $10,$ the board of directors of Larkspur Corporation declared a $10\%$ stock dividend. On October $10,$ the company had $12,400$ shares of $$1$ par common stock issued and outstanding with a market price of $$16$ per share. The stock dividend will be distributed on October $31$ to shareholders of record on October $25.$

Journalize the entries needed for the declaration and distribution of the stock dividend. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for 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.$)$

Date

Account Titles and Explanation

Debit

Credit

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