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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

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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 5,100 shares of common stock for cash at $21 per share. b. Issued 1,100 shares of common stock for cash at $24 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.) Journal entry worksheet 2 Record the issuance of 5,100 shares of common stock with a par value $2 for a price of $21 per share. Note: finter debits befere Eredits

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