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Maru [420]
1 year ago
13

Roxy corporation makes a short-term investment in 180 shares of sager company's common stock. the stock is purchased for $53 a s

hare. The entry for the purchase is?
Business
1 answer:
Jlenok [28]1 year ago
3 0

As the Roxy corporation purchases the 180 shares of $53 per share, then the entry for the purchase would be as follow:<u> Debit Stock investment </u><u>9,540 (180*53)</u><u> and credit cash </u><u>9540.</u>

<h3>What is debit and credit entry?</h3>

A debit entry in an account represents the deductions from a revenue, net worth, or liability account. It shows the transfer of the value to the account.

A credit entry in an account that is used to decrease the value of an asset or increase the value of a liability.

In accounting, a debit entry is shown on the left side of an account ledger, and credit entry is shown on the right side of an account ledger.

Learn more about debit and credit entry here:-

brainly.com/question/24174611

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