Question: On October 1 , 2 0 2 4 , the board of directors of Sandhill Corporation declared a 2 0 % stock dividend. On the

On October 1,2024, the board of directors of Sandhill Corporation declared a 20% stock dividend. On the declaration date, there
were 59,400 common shares issued and outstanding. The fair market value of the shares on October 1,2024, was $120 per share. The
stock dividend was distributed on October 31,2024, to shareholders of record on October 15,2024.
(a)
Prepare the journal entries required to record the stock dividend. (Credit account titles are automatically indented when the amount
is entered. Do not indent manually. 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. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
On October 1,2024, the board of directors of Sandhill Corporation declared

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