Question: Wait a Moon-ite declared and issued a stock dividend during the year. The stock dividend involved issuing 300,000 new common shares when common shares were

Wait a Moon-ite declared and issued a stock dividend during the year. The stock dividend involved issuing 300,000 new common shares when common shares were trading in the stock exchange for $40 per share. The average issuance price on the balance sheet was $20 per share when the stock dividend was declared. Prepare the journal entries. If an entry is not required, enter N/A.\ \ Record the journal entry that would occur on the payment date of the stock dividend.

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