On January 1, 2014, Frontier Corporation had $1,112,000 of common stock outstanding that was issued at par. It also had retained earnings of $742,000. The company issued 40,700 shares of common stock at par on July 1 and earned net income of $396,300 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2014, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.
(a) Par value is $10, and market value is $18.
(b) Par value is $5, and market value is $22.