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-   -   Which accounts are effected (https://www.askmehelpdesk.com/showthread.php?t=639284)

  • Feb 26, 2012, 03:00 PM
    rosiegirl00
    Which accounts are effected
    I invested $5000 in a business.
    Bought office furniture on account for $1800
    Made payment on account for furniture.

    How do I do these transactions? Could you please explain
  • Feb 26, 2012, 04:13 PM
    pready
    Debit Cash for 5,000
    Credit Onwers Capital for 5,000

    Debit Furniture for 1,800
    Credit Accounts Payable for 1,800

    Debit Accounts Payable for 1,800
    Credit Cash for 1,800

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