On August 1, when there were 220,000 shares issued, Media Ltd. declared a 5% stock dividend on its common shares. The dividend will be distributed on August 31 to the shareholders of record on August 15. Media shares were trading at $18 on August 1, $17.50 on August 15, and $17.20 on August 31. Prepare the journal entry necessary for each date.
a) August 1:
b) August 15:
c) August 31:
a) August 1:
