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This is a connected question so it has the same required information. Please help! Thank you in advance! Required information [The following information applies to
This is a connected question so it has the same required information. Please help! Thank you in advance!
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. 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. Required: 1. 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.) Assets Liabilities a. 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 Record the issuance of 5,100 shares of common stock with a par value $2 for a price of $21 per share. 1 e $2 for Record the issuance of 1,100 shares of common stock with a par value $2 for a price of $24 per share 2 CreditStep by Step Solution
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