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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 were completed:

Issued $5,000$ shares of common stock for cash at $$20$ per share.

Issued $1,000$ shares of common stock for cash at $$23$ per share.

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.$)$

Record the issuance of $5,000$ shares of common stock with a par value $$2$ for a price of $$20$ per share.

AND

Record the issuance of $1,000$ shares of common stock with a par value $$2$ for a price of $$23$ per share.