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 6,300 shares of common stock for cash at $23 per share. b. Issued 2,300 shares of common stock for cash at $26 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.) 1 Record the issuance of 6,300 shares of common stock with a par value $1 for a price of $23 per share. 2 Record the issuance of 2,300 shares of common stock with a par value $1 for a price of $26 per share