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On june 13 the board of directors of siewert inc declared a

1. On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Prepare the journal entry to record the stock dividend.

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Accounting Basics: On june 13 the board of directors of siewert inc declared a

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