Question: Davis Enterprises has 2 6 6 , 0 0 0 shares of $ 5 par value common stock outstanding. Davis declares a 4 0 %

Davis Enterprises has 266,000 shares of $5 par value common stock outstanding. Davis declares a 40% stock dividend on March 2 when the stocks market value is $61 per share. The journal entry for the declaration of the stock dividend is:

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