Question: Sully deposits $20,000 into Monsters Inc. in exchange for stock. What would be the correct journal entry? Sully deposits $20,000 into Monsters Inc. in exchange for stock. What would be the correct journal entry? Debit Common Stock $20,000 and Credit Cash $20,000 Debit Expense $20,000 and credit Common Stock $20,000 Debit Common Stock $20,000 and credit Expense $20,000 Debit Cash $20,000 and Credit Common Stock $20,000