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Uptown Co. has 20,000 common shares outstanding as of March 1, 2021. On March 15, 2021 they declared a 10% share dividend. The market value

Uptown Co. has 20,000 common shares outstanding as of March 1, 2021. On March 15, 2021 they declared a 10% share dividend. The market value of the shares on this date is $7. Prepare the journal entry, in good form, to record this share dividend. Assume all dividends are recorded directly to retained earnings.

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