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-   -   If the owner gives you $5,000 cash and a truck valued at $10,000, which accounts woul (https://www.askmehelpdesk.com/showthread.php?t=472488)

  • May 22, 2010, 08:54 AM
    bettyboop79
    If the owner gives you $5,000 cash and a truck valued at $10,000, which accounts woul
    If the owner gives you $5,000 cash and a truck valued at $10,000, which accounts would they be applied to?
  • May 23, 2010, 11:03 AM
    pready

    Debit Cash for the amount received
    Debit Vehicles (or appropriate account) for the amount
    Credit Owenrs' Equity or Captal for the total amount

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