Richman Corporation has 120,000 shares of common stock of $5 par value outstanding. He declared a 10%

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Richman Corporation has 120,000 shares of common stock of $5 par value outstanding. He declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions Prepare the necessary entries for the declaration and payment of the stock dividend.