Oriole Corporation has outstanding $489,000$ shares of $$10$ par value common stock. The corporation declares a $100\%$ stock dividend

when the fair value of the stock is $$62$ per share.

Prepare the journal entries for both the date of declaration and the date of distribution. $($List all debit entries before credit entries. Credit

account titles are automatically indented when the 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.$)$

Account Titles and Explanation

Declaration Date

Distribution Date