As of January 2, 2020, The Seeplus Company had the following items in its capital structure: Preferred stock, 6%, $5 par value, 100,000 shares authorized, 80,000 shares issued, 60,000 shares outstanding, convertible into 42,000 shares of common stock. Common stock, $4 stated value, 40,000 shares authorized, 25,000 shares issued, 6,000 shares in the treasury. Retained earnings of $612,000. On August 1, 2020, Seeplus’s governing board declared a 15% common stock dividend, for holders of record at September 1, 2020, when the market value of the common stock was $7 per share and the market value of the preferred stock was $9 per share. When the dividend was distributed on October 1, 2020, 30% of the dividend was issued in the form of fractional-share stock rights. On December 31, 2020, Seeplus was notified by its stock transfer agent that 60% of the fractional-share stock rights had been exchanged for common stock, and the remaining fractional-share stock rights had expired. Provide all the journal entries necessary for The Seeplus Company’s stock dividend.