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Splish Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the
Splish Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the stock is $63 per share. Prepare the journal entries for Splish Corporation for both the date of declaration and the date of distribution.
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