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  3. on june 1, 2021, dell co. declares 30% stock divid

On June 1, 2021, Dell Co. declares 30% stock dividend on its 80,000 shares of...

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On June 1, 2021, Dell Co. declares 30% stock dividend on its 80,000 shares of $20 par value common stock outstanding, at that date the stock fair market value was $25. On September 1, 2021 Dell Co. issues the shares. The journal entry of common stock dividends distributable on June 1, 2021 is: * Debit $600,000 Debit $480,000 Credit $600,000 Credit $480,000 None of the above. September 1, 2021 journal entry will include: * Debit Stock Dividend $600,000 Debit Common Stock Dividends Distributable $600,000. Credit Common Stock $480,000. Credit Common Stock Dividends Distributable $480,000. None of the above

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