51 133 points eBook On September 1, Ziegler Corporation had 54,000 shares of $5 par value common stock, and $162,000 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 Eamings $270,000; credit Stock Split Payable $270,000 Debit Retained Earnings $270,000; croat Common Stock $270,000 No entry is made for this transaction. Debit Retained Earnings $810,000; credit Common Stock $810,000 Multiple Choice Debit Retained Earnings $270,000; credit Stock Split Payable $270,000. Debit Retained Earnings $270,000; credit Common Stock $270,000. No entry is made for this transaction. Debit Retained Earnings $810,000; credit Common Stock $810,000. Debit Retained Earnings $810,000; credit Common Stock Split Distributable $810,000