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Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $40,000 cash in exchange for common stock. Identify the general journal entry

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Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $40,000 cash in exchange for common stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction. Multiple Choice Cash 40,000 40,000 Common Stock 40,000 Common Stock 40,000 Cash Accounts Receivable Cash 40,000 40,000 40,000 Cash 40,000 Common Stock 40,000 Common Stock 40,000 Cash Accounts Receivable 40,000 Cash 40,000 Investments 40,000 Common Stock 40,000 Cash 40,000 Note Payable 40,000

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