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WPS has a stock price of $37 per share. The company also reports the following account balances: Common Stock ($10 par): 300,000 shares APIC-Common

WPS has a stock price of $37 per share. The company also reports the following account balances: Common Stock ($10 par): 300,000 shares APIC-Common Stock: $1,200,000 Retained Earnings: $5,600,000 Situation 1: What journal entries are recorded if WPS issues a 5% stock dividend?

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