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-   -   Where do I post invest money in business on general ledger (https://www.askmehelpdesk.com/showthread.php?t=837040)

  • Feb 1, 2018, 01:41 PM
    k0335910
    Where do I post invest money in business on general ledger
    How do I post investing money into a business and purchases of goods for resale and cash sales totaled 8750.-- cogs 5,000 how do I post these to my general ledger. I tried to do this but professor said it wasn't right.
  • Feb 1, 2018, 03:32 PM
    paraclete
    If you mean this is capital injected into the business then debit cash and credit proprietors equity, credit cash debit purchases, debit cash credit sales.

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