The business owner used $25000 from their personal savings account to but common stock in their company. what would be the journ

Question

2 years ago

11

al entry?
cash debit cash 25000?
common stock credit common stock 25000?

1 answer:

irina1246 [14] · Answer 1 · 2023-06-26T16:28:04+03:00

The accounting entry is to Credit Cash for 25000 and Debit Common Stock for 25,000

<h3 /><h3>What is journal entry?</h3>

Journal entry shows how a business financial transactions are being recorded.

Typically, when cash is withdrawn from a business or personal account, the accounting entry is to credit the cash account.

Hence, the accounting entry is to Credit Cash for 25,000 and Debit Common Stock for 25.000.

Learn more about journal entry here : brainly.com/question/14279491

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