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Prepare the journal entry to record the declaration

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Problem 1: Silang Vayman Ltd. is a travel agency that specializes in tours to Indonesia and Norway. It has 78,000 common shares issued and outstanding. On October 13, 2020, the organization declared a 36% stock dividend. Prepare the journal entry to record the declaration and distribution (on November 1, 2020) of the dividend. The market price on the date of declaration was $31 per share.

Reference no: EM132686165

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