a-company-receives-60000-in-cash-from-an-owner-and-issues-common-stock-what-are-

Question

A company receives $60,000 in cash from an owner and issues common stock. What are the correct journal entries?

Accepted Answer

Debit Cash $60,000; Credit Common Stock $60,000.

Answer

Debit Cash $60,000; Credit Liabilities $60,000.

Answer

Debit Expenses $60,000; Credit Cash $60,000.

Answer

Debit Common Stock $60,000; Credit Cash $60,000.

A company receives \$60,000 in cash from an owner and issues common stock. What are the correct journal entries?