Prepare journal entries for each of the following transactions. March 1 Declared a 10% stock dividend to common shareholders. The market value of the common stock is $40 per share. The par value is $10. There are 500,000 shares of common stock outstanding. March 15 Issued a stock dividend in settlement of the dividend declared on March 1. October 10 Declared a 35% stock dividend to common shareholders. The market value of the common stock is $30 per share. The par value is $10. There are 750,000 shares of common stock outstanding. October 25 Issued a stock dividend in settlement of the dividend declared on October 25.
DATE		DESCRIPTION		DEBIT		CREDIT