On December 1,2017,Galahad,Inc.had 200,000 shares of $1 par value common stock issued and outstanding.The next day Galahad declared and distributed a 50% stock dividend.The market value of the stock on December 2,2017 was $9 per share.Prepare the journal entry for the transaction.

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The Answer of On December 1,2017,Galahad,Inc.had 200,000 shares of $1 par value common stock issued and outstanding.The next day Galahad declared and distributed a 50% stock dividend.The market value of the stock on December 2,2017 was $9 per share.Prepare the journal entry for the transaction.