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WOW! Inc. declared a 5 percent stock dividend on its 500,000 shares of common stock....

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Accounting

WOW! Inc. declared a 5 percent stock dividend on its 500,000 shares of common stock. The $10 par value common stock was originally sold for $12 and was selling at $15 at the time the stock dividend was declared.

Prepare the general journal entries to record and distribute the stock dividend.

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