On September 1 Ziegler Corporation had 72.000 shares of $5 par value common stock and $216,000 of retained earnings. On that date when 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: Debit Retained Earnings $1,080,000, credit Common Stock Split Distributable $1,080,000 Debit Retained Earnings $1080,000; credit Common Stock $1.080,000 Debit Retained Earnings $360,000, credit Stock Split Payable $360,000 No entry is made for this transaction Debit Retained Earnings $360,000; credit Common Stock $360,000