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help please? Required information [The following information applles to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each
help please? Required information [The following information applles 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 year, the following selected transactions were completed: a. Issued 5,500 shares of common stock for cash at $20 per share. b. Issued 1,500 shares of common stock for cash at $23 per share. Required: 1. Complete the table beiow, ind cating the account, amount, and direction of the effect for the above transactions, (Enter any decreases to account balances with a minus sign.) Journal entry worksheet Record the issuance of 5,500 shares of common stock with a par value $2 for a price of $20 per share. Note: Enter debits before credits. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Maximum amount of cash dividends
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