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    mandee0625's Avatar
    mandee0625 Posts: 1, Reputation: 1
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    #1

    Dec 5, 2007, 10:26 AM
    Journal Entry
    Owners invest $60,000 at the beginning of January and receive 5000 shares of $2 par common stock.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Dec 6, 2007, 06:52 PM
    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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