Owners invest $60,000 at the beginning of January and receive 5000 shares of $2 par common stock.
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Owners invest $60,000 at the beginning of January and receive 5000 shares of $2 par common stock.
Do you mean the company received $60,000 cash from investers?
If so, then your Journal entry will be:
Debit Cash 60,000
Credit Capital Stock 10,000
Credit Additional Paid-in Capital 50,000
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