Required information E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [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: Issued 5,000 shares of common stock for cash at $20 per share. Issued 1,000 shares of common stock for cash at $23 per share. E11-2 Part 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 5,000 shares of common stock with a par value $2 for a price of $20 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Cash 100,000 Common Stock 10,000 Record entry Clear entry View general journal