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Ncentive 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.
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.)
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Ncentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value...
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