Question 42 (3 points) For items 42, 43 and 44 use the following information: The common stock of ASU Corporation is currently selling at $80 per share. The board of directors wish to reduce the share price and increase the share volume prior to a new issue. The per share par value is $10. 500,000 shares are issued and outstanding. What is the journal entry to record the following transaction? The board of directors voted a 2 for 1 stock split. Debit; Common Stock, 5,000,000; Retained Earnings, 5,000,000 Debit: Retained Earnings, 5,000,000; Credit: Common Stock, 5,000,000 Debit: Treasury Stock, 5,000,000; Credit, Common Stock, 5,000,000 No entry