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11: On October 1, a corporation had 200,000 shares of $4 par value common stock, and $1,000,000 of retained earnings. The operation decides a 2-for-1
11: On October 1, a corporation had 200,000 shares of $4 par value common stock, and $1,000,000 of retained earnings. The operation decides a 2-for-1 stock split. The general journal entry to record this transaction are: A. Retained earnings (debit) and common stock (credit). B. Retained earnings (debit) and common stock split distribution (credit). C. Retained earnings (debit) and Stock split (credit). D. No journal entry. MICS
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