Answer and Explanation:
The Journal entry is shown below:-
On August 2
Stock dividend Dr, $67,320 ($33,000 × 3% × $68)
To Stock dividend distributable $49,500 ($33,000 × 3% × $50)
To Paid in capital in excess of par - common stock $17,820
(Being stock dividend is recorded)
On September 15
No Journal entry is required
On October 8
Stock dividend distributable Dr, $49,500
To Common stock $49,500
(Being stock dividend is recorded)
