University Food Systems Inc. has issued a 40 percent stock dividend. The company has 952,000 common shares authorized and 300,000 shares issued and outstanding. The common shares account had a balance of $3,600,000 on the date of declaration of the stock dividend, and the market value was $15 per share. Prepare the journal entry for the issuance of this stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the pa No journal entry required Accounts payable Available for sale securities Bonds payable Note: Enter debits Transaction Credit 1 Record entry Clear entry View general journal