Problem - Paris Corporation has 35,000 shares of $60 par common stock outstanding. On February 8, Paris Corporation declared a 3% stock dividend to be issued April 11 to stockholders of record on March 10. The market price of the stock was $86 per share on February 8.
Journalize the entries required on February 8, March 10, and April 11. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" and leave the amount boxes blank.