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On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market

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On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 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 Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000 credit Common Stock Spil Distributable $425.000 o o o Debit Retained Earnings $375.000, credit Stock Split Payable $375,000

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