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On September 1, Ziegler Corporation had 57,000 shares of $5 par value common stock, and $171,000 of retained earnings. On that date, when the market

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On September 1, Ziegler Corporation had 57,000 shares of $5 par value common stock, and $171,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice O Debt Retained Earnings $855,000 credit Common Stock Split Distributable $855.000 Debit Retained Earnings $855.000, credit Common Stock $855,000 0 Debt Retained Earnings $285.000. Credit Common Stock 5285.000 0 O Debt Retained Earrings $285.000, Credit Shock St Payable 5285.000 0 O No entry is made for this transaction

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