Required information E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,500 shares of common stock for cash at $25 per share. b. Issued 2,500 shares of common stock for cash at $28 per share. E11-2 (Algo) Part 2 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.) Journal entry worksheet 1 2 Record the issuance of 6,500 shares of common stock with a par value $1 for a price of $25 per share. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry View general journal