Record the journal entry

01/01/20X1 - C/A extract no. X1/001

Monica and Chandler decide to set up a company together (MONCHAN). They decide to open a store to sell furniture. Chandler owns a three-year old van that he will bring into the company (instead of cash) for share capital. Monica brings in 40 000,00 EUR in cash and they agree that Chandlers van is worth 32 000,00 EUR. They decide that share capital has to be paid up for 75%. [1 000 shares are issued at a price of 72,00 EUR per share]