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.
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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.
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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