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What are the journal entries to book $1,000,000 in common stock that is newly issued?


ANSWER


The BIDaWIZ Team's Answer:

When the stock is created, there is no journal entry. Once, the stock is sold,

you will debit "cash," for $1M, and credit "stockholder's equity," for $1M.

The BIDaWIZ Team

 

 

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