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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
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 5,700 shares of common stock for cash at $20 per share b. Issued 1.700 shares of common stock for cash at $23 per share. 40 :11-2 Part 1 required: Complete the table below, indicating the account, amount and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign) Stockholders' Equity Liabilities Assets b
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