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crazyitalian143
Apr 16, 2007, 06:52 AM
10 investors contribute $2500 each in order to start a new business venture. Each will receive 1000 shares of stock. Can't figure out journal entry
goldenbutterfly
Apr 16, 2007, 06:58 AM
The business will be receiving a total of 25000 from the investors. Assuming $2.50 par value of stock

dr. Cash 25,000
cr. (Common/Preferred) Stock 25,000