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 6,200 shares of common stock for cash at $22 per share b. Issued 2,200 shares of common stock for cash at $25 per share. References Section Break E11-2 Reporting Stockholders Equity and Determining Dividend Policy [LO 11-2, LO 11-3] value: 0.37 points Rec E11-2 Part1 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.) Assets Liabilities Stockholders' Equity 136,400 Stock Additional Paid-in Capital, Common Stock ash 55,000 Stock Additional Paid-in Capital, Common Stock 2. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the issuance of 6,200 shares of common stock with a par value $2 for a price of $22 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal