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:

Issued 6,100 shares of common stock for cash at $21 per share.

Issued 2,100 shares of common stock for cash at $24 per share.

Journal entry worksheet

1)

Record the issuance of 6,100 shares of common stock with a par value $2 for a price of $21 per share.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
a

2)

Record the issuance of 2,100 shares of common stock with a par value $2 for a price of $24 per share.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
b