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Ray Corp. declared a 5% stock dividend on its 10,000 issued and outstanding shares of...

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Accounting

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Ray Corp. declared a 5% stock dividend on its 10,000 issued and outstanding shares of $2 par value common stock, which had a fair value of $5 per share before the stock dividend was declared. This stock dividend was distributed 60 days after the declaration date. By what amount did Rays current liabilities increase as a result of the stock dividend declaration? $2,500 $0 $500 $1,000

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