Prepare entries to record both the dividend declaration and its distribution.

1. Record the declaration of a 2% stock dividend.

2. Record the distribution of a 2% stock dividend.

On February 5 , the directors deciare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $31 per share on February 5 before the stock dividend 1. Prepare entries to record both the dividend declaration and its distribution. Journal entry worksheet 2 Prepare entries to record both the dividend declaration and its distribution. Journal entry worksheet Record the distribution of a 2% stock dividend. Note: Enter debits before credits