ht Texas Corporation had outstanding 120,000 shares of no-par-value common stock, with a stated value of $16, on December 1, 20X1. The directors voted to split the stock on a 2-for-1 basis, issuing one new share to stockholders for each share presently owned. The estimated fair value of the new share will be $8. Required: Give any general journal entry required on December 1. Note: If no entry is required for a particular transaction, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet nces < 1 Record the entry for stock split. 7