Current Attempt in Progress

On January $1,2025,$ Sunland Supply Corporation had $$1,940,000$ of $$10$ par value common stock outstanding that was issued at par $-$and Retained Earnings of $$970,000.$ The company issued $135,800$ shares of common stock at $$15$ per share on July $1.$ On December $15,$ the board of directors declared a $10\%$ stock dividend to stockholders of record on December $31,2025,$ payable on January $15,2026.$ The market value of Sunland Supply Corporation stock was $$17$ per share on December $15$ and $$16$ per share on December $31.$ Net income for $2025$ was $$485,000.$

$($a$)$

Journalize the issuance of stock on July $1$ and the declaration of the stock dividend on December $15.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$