philly75
Jan 2, 2009, 02:25 PM
I have a business that sold a piece of equipment for $8000. I am trying to T account it:
Equipment
Credit $8000 (1)
Cash
Debit $8000 (1)
??
Credit $8000 (2)
Owner's Equity
Debit $8000 (2)
What I am missing is what T account the Owner's Equity comes from. I cannot remember which one this should come out of.
Equipment
Credit $8000 (1)
Cash
Debit $8000 (1)
??
Credit $8000 (2)
Owner's Equity
Debit $8000 (2)
What I am missing is what T account the Owner's Equity comes from. I cannot remember which one this should come out of.