a-business-receives-a-15000-cash-contribution-from-an-owner-how-should-this-be-r

Question

A business receives a $15,000 cash contribution from an owner. How should this be recorded in the journal?

Accepted Answer

Debit Cash $15,000; Credit Common Stock $15,000.

Answer

Debit Cash $15,000; Credit Liabilities $15,000.

Answer

Debit Common Stock $15,000; Credit Cash $15,000.

Answer

Debit Liabilities $15,000; Credit Cash $15,000.

A business receives a \$15,000 cash contribution from an owner. How should this be recorded in the journal?