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Langley Corporation has 45,000 shares of $10 par value common stock outstanding. It declares a...

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Accounting

Langley Corporation has 45,000 shares of $10 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $19. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend.

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