On September 1 Z Ziegler Corporation had 70,000 shares of $5 par volue common stock, and $210,000 of retained earnings. On that date. when the market price of the stock is $15 per share. the corporation issues a 2 -foc-1 stock split. The general journal entry to record this transaction is. Mulipie Chaice No entry is mode for this transsction. Debit Retained Earings $350,000; credit Sock Spet Pryable $350,000 Debt getained Eacrings 51050,000 . credt Common Stock 5ple Ditributable $1,050,000 Debt Aetnined Earhings $350000, eredit Common Stock 5350,000