Journal entries for when someone other than partners investing in the company
Hi,
Question for when someone other than partners investing in the company.
Here is the situation:
My mom puts money($25K) in my trucking business so I can buy a truck and whatever that truck makes, I give profit to my mom.
How do I put these transactions in the book?
Business is owner of the truck and eventually once the truck is retired and sold, money received when sold would go back to my mom.
Thanks in advance
