Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,300 shares of GE...

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Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,300 shares of GE common stock that Adams had purchased in February for $44,200 as an investment. GE's shares had a market value of $32 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. (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 1 2 3 > Record adjustment of stock to fair value. Note: Enter debits before credits. Event General Journal Debit Credit View transaction list > Record adjustment of stock to fair value. 2 Record the journal entry on the declaration date. 3 Record the journal entry on the payment date. Credit Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,300 shares of GE common stock that Adams had purchased in February for $44,200 as an investment. GE's shares had a market value of $32 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. (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 1 2 3 > Record adjustment of stock to fair value. Note: Enter debits before credits. Event General Journal Debit Credit View transaction list > Record adjustment of stock to fair value. 2 Record the journal entry on the declaration date. 3 Record the journal entry on the payment date. Credit