Question: Your client is opening a flower shop. To do so , he forms a C corporation and invests $ 8 , 0 0 0 of

Your client is opening a flower shop. To do so, he forms a C corporation and invests $8,000 of his own savings. He also receives a $12,000 loan from his parents to assist with startup costs. How should you record the $12,000 from his parents?

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Solution The 12000 loan from the parents should be recorded as a liability on the bala... View full answer

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