ow Attempt History urrent Attempt in Progress - Your answer is partially correct. Blue Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for Blue Corporation for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Declaration Date Retained Earnings 1109800 751800 358000 Paid in Capitalin Excess of Par - Common Stock Common Stock Dividend Distributable Distribution Date 358000 358000 Common Stock Dividend Distributable Common Stock e Textbook and Media List of Accounts Submit Answer Attempts: 1 of 5 used