[missymc36]

How can I set up the necessary T-Accounts for a $1500 bill and show the transaction in what two accounts?

[pready]

A T account Looks like a T. Above the top of the T is for the Account Name, the left side of the T is for Debits and the right side is for Credits.

You will need to know what the bill is for in order to figure out what accounts you will need. If the bill was for services redndered to you, your accounts will be: Appropriate Expense Account and Accounts Payable account.

You will have 2 T accounts for this transaction. One for your debit account and one for your credit account.