Joshua Scott Invests $40,000 into His New Business

question 192

Multiple Choice

Joshua Scott invests $40,000 into his new business.How would this transaction be entered in the journal in good form?

• A)Cash 40,000 Common Stock 40,000
• Invested cash in business.
• B)Accounts Receivable 40,000 Common Stock 40,000
• Invested cash in business.
• C)Common Stock 40,000 Cash 40,000
• Invested cash in business.
• D)Loans Payable 40,000 Cash 40,000
• Invested cash in business.

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Definitions:

Iris

The colored part of the eye surrounding the pupil that controls the amount of light entering the eye.

Opening

An aperture or gap that allows access, passage, or a view through something.

Light

A type of electromagnetic radiation that is visible to the human eye, responsible for the sense of sight.

Eye Sockets

The bony structures in the skull that house and protect the eyes, also known as orbits.