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?