When a corporation sells some of its own common shares,all on credit,there should be a debit to the account:

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When a corporation sells some of its own common shares, all on credit, the account that should be debited is Subscriptions receivable, common. This is because the corporation has not received the cash for the shares yet, so it records the amount owed (the subscriptions receivable) as an asset on its balance sheet until the cash is received. Accounts receivable and notes receivable are more commonly used to record credit sales of goods or services, and cash should not be debited in this scenario as the corporation has not yet received the cash.

When a Corporation Sells Some of Its Own Common Shares,all