Entries for stock dividends

Madrid Corporation has 40,000 shares of $80 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $110 per share on August 2.

Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.

Date	Account	Debit	Credit
Aug. 2	CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock DividendsStock Dividends	Stock Dividends	Stock Dividends
	Cash DividendsCommon StockNo Entry RequiredStock Dividends DistributableStock DividendsStock Dividends Distributable	Stock Dividends Distributable	Stock Dividends Distributable
	Cash Dividends PayableCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock DividendsPaid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock
Sept. 15	Common StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock Dividends DistributableStock DividendsNo Entry Required	No Entry Required	No Entry Required
	Common StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock Dividends DistributableStock DividendsNo Entry Required	No Entry Required	No Entry Required
Oct. 8	Common StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock Dividends DistributableStock DividendsStock Dividends Distributable	Stock Dividends Distributable	Stock Dividends Distributable
	Common StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock Dividends DistributableStock DividendsCommon Stock	Common Stock	Common Stock