How would I journal this question: Serrano began the business with an investment of $40,000 cash and a van (autonobile) valued at $20,000. The business gave Serrano owner's equity in the firm.

and this one: Received a $500 bill for advertising exppense that will be paid in the near future.

Debit Cash for 40,000
Debit Auto for 20,000
Credit Owner's Equity for 60,000

Debit Advertising expense for 500
Credit Accounts Payable for 500