How does an "Incomplete" grade look on transcipt?

I will be applying for a Masters degree(non-MBA) in the second semester of Senior year. Unfortunately, i will be having an incomplete in one of my courses, and would have to re-take the class. Overall, my transcript is made up of As and Bs. This is the first incomplete I've ever received.

How does this look in the eyes of the admitting college? I would have to sent in my transcript before everything is settled.

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