On September 1, Ziegler Corporation had 52,000 shares of $5 par value common stock, and $156,000 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 $260,000, credit Stock Split Payable $260,000, No entry is made for this transaction Debit Retoined Earnings $780,000 credit Common Stock $780,000 Debit Retained Earnings $780,000 credit Common Stock Split Distributable $780,000 Debit Retained Earnings $260,000, Credit Common Stock $260,000