How do I do a general journal entry on this scenario: Seeing that the business is getting some traction, but could benefit for more capital, Scoot Blout invests another $30,000 of his personal money into the business.
How do I do a general journal entry on this scenario: Seeing that the business is getting some traction, but could benefit for more capital, Scoot Blout invests another $30,000 of his personal money into the business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How do I do a general
Seeing that the business is getting some traction, but could benefit for more capital, Scoot Blout invests another $30,000 of his personal money into the business.
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Step 1
Journal entry: It is also called as book of original entry. All financial transactions occurred in a business are recorded using the journal entry. The journal entry is recorded in the order in which a financial transaction happens and for every entry a debit and a credit for an equal amount is recorded.
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