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Journal entry of own money to start business
beginnerT
Feb 2, 2012, 12:26 AM
Clint contributed 2000 of his own money to start the business will the journal entry be cash(assets) dr: 2000 ? Are their any other accounts affected
pready
Feb 2, 2012, 12:19 PM
Debit Cash for 2,000
Credit Clint, Capital for 2,000 (this is an owners equity account)