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    Rochesg's Avatar
    Rochesg Posts: 1, Reputation: 1
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    #1

    Nov 8, 2006, 12:54 PM
    General Journal Entries
    How do I make a general journal entry for expenses the owner has paid out of his pocket?
    This is a new business and beginning capital came from an invoice to a customer and not the owner.
    arslan.jh's Avatar
    arslan.jh Posts: 1, Reputation: 1
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    #2

    Nov 12, 2010, 08:16 AM
    The expense which is made is debited and the owner capital is credited! Because he is contributing in the business from his pocket so it is his capital!
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