Sygnio purchased 1,700 shares of Toniq Corp.common shares for $122,250 on July 15 of this year.This purchase represented 1% of Toniq Corp's outstanding common shares and being held by the company for a short period.Prepare the journal entry to record the purchase.

Question

Quizplus · Accepted Answer

The Answer of Sygnio purchased 1,700 shares of Toniq Corp.common shares for $122,250 on July 15 of this year.This purchase represented 1% of Toniq Corp's outstanding common shares and being held by the company for a short period.Prepare the journal entry to record the purchase.

Sygnio Purchased 1,700 Shares of Toniq Corp