How do I journalize this transaction? "You purchase $500 of you own business's common stock"?

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  • Don G
    Lv 7
    2 months ago

    If you purchase your own business's common stock as an investment, apart from the business, then there is no transaction to record on the books of the company. If the purchase was made by the business, then DR Treasury Stock and CR Cash.

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  • 2 months ago

    Research "Treasury Stock" in your text book and you should find the answer.

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