Sprague, Inc., has 10,000,000 shares of $2 par value common stock authorized and 1,500,000 shares issued and outstanding. The stock had a fair market value of $20 per share on November 15, 2013, when the board of directors declared a 5 percent stock dividend to holders of record on November 27, 2013. The new shares were distributed on December 10, 2013. Make the journal entries to record the declaration and distribution of the stock dividend.