13 On September 1, Ziegler Corporation had 68,000 shares of $5 par value common stock, and $204,000 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 Debit Retained Earnings $340,000; credit Common Stock $340,000. Debit Retained Earnings $340,000; credit Stock Split Payable $340,000. nahit Detained Earrings $100.000 credit Common Stacks Sulit Distributable $1.000.000

On September 1. Zlegler Corporation had 68,000 shares of $5 par value common stock, and $204,000 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 $340,000; credit Common Stock $340,000. Debit Retained Earnings $340,000; credit Stock Split Payable $340,000