Dynasty Corporation Had Stockholders' Equity on January 1 as Follows

Dynasty Corporation had stockholders' equity on January 1 as follows: Common Stock,$5 par value,1,000,000 shares authorized,400,000 shares issued; Paid-in Capital in Excess of Par Value,Common Stock,$800,000; Retained Earnings,$3,600,000.Prepare journal entries to record the following transactions:
$$\begin{array} { | l | l | } \hline \text { Feb. 15 } & \begin{array} { l } \text { The board of directors declared a 5\% stock dividend to } \\\text { stockholders of record on }\end{array} \\\hline & \begin{array} { l } \text { March 1, to be issued on March 20. The stock was trading at \$7 } \\\text { per share prior to the dividend }\end{array} \\\hline\\\hline \text { Mar. 1 } & \text { The date of record. } \\\hline \\ \hline \text { Mar. 20 } & \text { Issued the stock dividend. } \\\hline\end{array}$$