! Required information [The following information applies to the questions displayed below.] 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 6,400 shares of common stock for cash at $24 per share. b. Issued 2,400 shares of common stock for cash at $27 per share. 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 View journal entry worksheet No 1 2 Transaction a b General Journal Cash Common Stock Additional Paid-In Capital, Common Stock Cash Common Stock Additional Paid-In Capital, Common Stock Debit Credit

Required information [The following information applies to the questions displayed below.] 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 6,400 shares of common stock for cash at $24 per share. b. Issued 2,400 shares of common stock for cash at $27 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.)