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 5,800 shares of common stock for cash at $18 per share. b. Issued 1,800 shares of common stock for cash at $21 per share. E11-2 (Algo) Part 1 Required: 1. 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.) OFTEN

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 5,800 shares of common stock for cash at $18 per share. b. Issued 1,800 shares of common stock for cash at $21 per share. E11-2 (Algo) Part 1 Required: 1. 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.) Journal entry worksheet 2 7 8 Record the entry for the provison of 100 hours of regular hourly tutoring at the rate of $22 per hour, all of which was collected in cash. Note: Enter debits before credits. Prepare HTI's income statement for the month ended September 30. Prepare HTI's statement of retained earnings for the month ended September 30 . 3. Prepare HTI's classified balance sheet at September 30. (Amounts to be deducted should be indicated by a minus sign.)