Silver Dollar Corp. had the balances below on January 15, 2015, in its stockholders equity accounts. On that same day, the company declared a 2% stock dividend, when the stock had a current market value of $20 per share. The stock dividends are distributed on February 20, 2015. Prepare the journal entries required on each date.

Common Stock, $2 par (100,000 shares issued) $ 200,000 Paid-In Capital in Excess of ParCommon Stock 470,000 Retained Earnings 1,060,000