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 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: Question 9 options: No entry is made for this transaction. Debit Retained Earnings $180,000; credit Common Stock $180,000. Debit Retained Earnings $360,000; credit Stock Split