Question: I need help doing a journal entry for this problem. Can someone explain this? There are 8,000 shares of $10 par common stock outstanding. On

I need help doing a journal entry for this problem. Can someone explain this?

There are 8,000 shares of $10 par common stock outstanding. On July 15, 2016 the market value of the stock is $72 per share and the board of directors declares a 10% stock dividend.

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