journal entries Corporation S?

Toby Caswell: 1. For the cash debit Cash or Checking, credit the liability account "Loan from Shareholder" For items purchased or fees paid with the shareholder's personal credit card, debit the particular expense paid or asset purchased and credit the liability account "Loan from Shareholder" 2. For the computers and furniture purchased with your personal credit card debit the Fixed Assets:Computers and Fixed Assets:Furniture and credit the liability account "Loan from Shareholder" 3. No entry needed on S corporation books.When the S Corp pays the shareholder back debit "Loan from Shareholder", credit Cash...Show more