Business, 19.03.2020 09:27 naomicervero

On Jan. 2, Callie Taylor invests $40,000 into the business in exchange for common stock. She journalized the transaction as follows but something is wrong with the journal entry. Use your knowledge of what a correct journal entry should look like to identify everything that is wrong. Select all answers which apply. 2Common Stock40,000Cash4,000(Owner invested in business)a. The dollar amount is wrong in the Credit columnb. Common Stock should be listed below Cashc. The Cash account should be listed firstd. The Common Stock account should be indented as it is creditede. $ signs should be included in the Debit and Credit columns

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On Jan. 2, Callie Taylor invests $40,000 into the business in exchange for common stock. She journal...

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