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    jgreene001's Avatar
    jgreene001 Posts: 1, Reputation: 1
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    #1

    Jan 28, 2011, 12:46 PM
    Accounting
    I transferred money from my savings to my business checking to pay bills. How is that money classified? Income, asset?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jan 28, 2011, 01:42 PM

    Are you talking about an owner that is transferring money from a personal account to a business account, then you Debit Cash for the amount and Credit your Owners Capital account.
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