P $21-9$B $($LO$3)$

$$ Nov. $22.$ Dr$.$ Stock Dividends: $$105,000$

CASH DIVIDENDS, STOCK DIVIDEND, AND STOCK SPLIT During the year ended December $31,20--,$ Baggio Company completed the following transactions:

Apr. $15$ Declared a semiannual dividend of $$0\mathrm{.}65$ per share on preferred stock and $$0\mathrm{.}45$ per share on common stock to shareholders of record on May $5,$ payable on May $10.$ Currently, $6,000$ shares of $$50$ par preferred stock and $70,000$ shares of $$1$ par common stock are outstanding.

May $10$ Paid the cash dividends.

Oct. $15$ Declared semiannual dividend of $$0\mathrm{.}65$ per share on preferred stock and $$0\mathrm{.}45$ per share on common stock to shareholders of record on November $5,$ payable on November $20.$

Nov. $20$ Paid the cash dividends.

$22$ Declared a $10\%$ stock dividend to shareholders of record on December $8,$ distributable on December $16.$ Market value of the common stock was estimated at $$15$ per share.

Dec. $16$ Issued certificates for common stock dividend.

$20$ Board of directors declared a two$-$for$-$one common stock split.

REQUIRED

Prepare journal entries for the transactions.