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 $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 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 " Journal Entry Required" in the first account field.) View transaction list Record the issuance of 5,600 shares of common stock with a par value $1 for a price of $21 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the issuance of 1,600 shares of common stock with a par value $1 for a price of $24 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit entry