$2$

Required information

Part $2$ of $4$

$[$The following information applies to the questions displayed below.$]$

Incentive Corporation was authorized to issue $12,000$ shares of common stock, each with a $$2$ par value. During its first

$0\mathrm{.}4$

year, the following selected transactions were completed:

points

a$.$ Issued $5,200$ shares of common stock for cash at $$22$ per share.

b$.$ Issued $1,200$ shares of common stock for cash at $$25$ per share.

$2.$ Prepare the journal entry required for each of these transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Answer is not complete.

$\backslash$table$[[$No$,$Transaction,General Journal,,Debit,Credit$],[1,$a$,$Cash,$0,30,000$prop,$],[,$Common Stock,$0,,2,400$