Corporation reports the following information:
August 25, 2020
Long, the owner, receives money in advance of performing the service, $9,800. Required:
August 25, 2020
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Headland Corporation has outstanding 2,994,000 shares with common stock of a par value of $10 each.

$37

(a)Prepare the journal entry to record (1) the declaration and (2) payment of the cash dividend.

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(b)Prepare the journal entry to record (1) the declaration and (2) distribution of the stock dividend.

I have the answers for part a. I need help with part b

 

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