Smith has 300,000 shares of common stock outstanding with a par value of $3 per share. Smith authorized a 10% stock dividend when the market value was $8 per share. A journal entry for the stock dividend would require:

5. Gaines originally issued 15,000 shares of $10 par value common stock at $15 per share. During the current year, 1,000 of these shares were reacquired for $20 each. The proper entry to record the reacquisition includes: