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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1
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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