Please follow requirements for recording the transations.

Portrait Schools, Inc. is authorized to issue 200,000 shares of $3 par common stock. The c declared and paid a S0.60 per share cash dividend. stock dividend. Later company issued 73,000 shares at $5 per share. When the market price of common stock was $7 per share, Portrait declared and distributed a 10% stock dividend Later, Portrait Read the requirements Requirement 1. Joumalze the declaration and the distribution of the stock dividend (Record debits first then credits. Select the explanation on the last line of the journal entry table) First journalize the declaration of the stock dividend Requirements Date Accounts and Explanation Debit Credit 1. Joumalize the declaration and t s 2. Jomalize the declaration and payment of the cash dividond the distribution of the stock dividend Print Done