Sunland Company's stockholders' equity section at December 31, 2019, appears below:

Stockholder's equity
	Paid-in capital
		Common stock, $10 par, 87,000 outstanding			$870,000
		Paid-in capital in excess of par			162,000
			Total paid-in capital				$1,032,000
	Retained earnings						156,000
Total stockholder's equity							$1,188,000

On June 30, 2020, the board of directors of Sunland Company declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Sunland Companys stock on June 30, 2020, was $17. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Sunland Companys stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $224,000 and there were no cash dividends declared.

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Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order in which they must have occurred.)

Exercise 244 (Part Level Submission) Sunland Company's stockholders' equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 87,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholder's equity $870,000 162,000 $1,032,000 156,000 $1,188,000 On June 30, 2020, the board of directors of Sunland Company declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Sunland Company's stock on June 30, 2020, was $17. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Sunland Company's stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $224,000 and there were no cash dividends declared. (a) Your answer is partially correct. Try again. Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order in which they must have occurred.) Date Account Titles and Explanation Debit Credit 6/30/17 TStock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Par Value-Common Stock #1 || Common Stock Dividends Distributable ODDODDDDDDD CODDODOVODO Common Stock 1 12/15/17 No Entry No Entry Click if you would like to show Work for this question: Open Show Work