E$11-2($Algo$)$ Reporting Stockholders' Equity and Determining Dividend Policy $[$LO $11-2,$ LO $11-3]$

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

Incentive Corporation was authorized to issue $12,000$ shares of common stock, each with a $$1$ par value. During its first year, the following selected transactions were completed:

a$.$ Issued $6,800$ shares of common stock for cash at $$28$ per share.

b$.$ Issued $2,800$ shares of common stock for cash at $$31$ per share.

E$11-2($Algo$)$ Part $1$

Required:

Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. $($Enter any decreases to account balances with a minus sign.$)$