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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
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 5,200 shares of common stock for cash at $22 per share. |
b. | Issued 1,200 shares of common stock for cash at $25 per share. |
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