Journal Entries for partners in a business

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1. Partners transfers money to start the company
Journal Entry
DR Cash $50,000
CR Contributed Capital by A $50,000

"When an investor pays a company for shares of its stock, the typical journal entry is for the company to debit the cash account for the amount of cash received and to credit the contributed capital account"

https://www.accountingtools.com/articles/what-is-contributed-capital.html

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  • 13 days ago by vince