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Stafford Publishing Inc. was established on February 21, 2020. Stafford is authorized to issue 800,000 shares of $2.00 par value common stock and by December
Stafford Publishing Inc. was established on February 21, 2020. Stafford is authorized to issue 800,000 shares of $2.00 par value common stock and by December 31, 2020, Stafford had 200,000 shares issued & outstanding and Paid-In Capital of $1,800,000. On January 3, 2021, when the common stock was trading for $15/share, Stafford declared a 14% stock dividend. Which of the following would be included in the journal entry to record the declaration and payment of the stock dividend?
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