Recording Stock Dividends, Fractional Shares Tech Inc. issues a 5% common stock dividend on 90,000 shares of $1 par common stock issued and outstanding on August 1, 2020. The market price of its common stock is $20 per share. The small stock dividend will be distributed on August 15, 2020, to stockholders of record on August 7, 2020. Required a. Record the entry on (1) the date of declaration and (2) the date of distribution. b. Assume that of the 4,500 stock dividend shares, 3,960 were whole shares and the remaining were fractional shares making up 540 equivalent whole shares. The company's policy is to pay cash to shareholders for fractional shares. Record the entry on (1) the date of declaration and (2) the date of distribution. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Note: If the journal entry includes an extra line that is not required, select "N/A" as the account name and leave the Dr. and Cr. answers blank (zero) in the very last row of the journal entry. Account Name Dr. Cr. a. Aug. 1, 2020 . To record declaration of dividend. Aug. 15, 2020 2 To record issuance of dividend. b. Aug. 1, 2020 . To record declaration of dividend. Aug. 15, 2020 To record issuance of stock dividend. Aug. 15, 2020 To record issuance of cash dividend