How to do these steps in QBO? Record an owner’s contribution on 1/14/20 to Owners (a new vendor) after receiving a check that was immediately deposited in the amount: $40,000 to account: Owner’s Equity. Record the deposit of funds from a new note payable signed on 1/16/20 with Chase Bank (a new vendor) in the amount of $32,000. Record the payment to Rabobank (a new vendor) to retire an existing note payable on 1/17/20 of $23,000 with interest of $300 using check 325 for a total of $23,300. Record the purchase of a building from Leeds, Inc., (a new vendor) on 1/17/20 in exchange for a note payable of $31,800.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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How to do these steps in QBO?

Record an owner’s contribution on 1/14/20 to Owners (a new vendor) after receiving a check that was immediately deposited in the amount: $40,000 to account: Owner’s Equity.

Record the deposit of funds from a new note payable signed on 1/16/20 with Chase Bank (a new vendor) in the amount of $32,000.

Record the payment to Rabobank (a new vendor) to retire an existing note payable on 1/17/20 of $23,000 with interest of $300 using check 325 for a total of $23,300.

Record the purchase of a building from Leeds, Inc., (a new vendor) on 1/17/20 in exchange for a note payable of $31,800.

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