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  3. mustang corporation had 100,000 shares of $2 par v

Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31,2021...

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Accounting

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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31,2021 , the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20,2022 to the stockholders of record on January 15, 2022. The market price of the company's stock is $10 per share on December 31,2021 . Complete the necessary journal entry to record the declaration of the stock dividend by selecting the account names from the dropdown menus and entering the dollar amounts in the debit or credit columns

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