If a business owner invests $5,000 in cash into the business, which side of the T for the cash account would the $5,000 be recorded? Debit Credit Net income It would not be recorded because the cash comes from the owner.

If a business owner invests $5,000 in cash into the business, which side of the T for the cash account would the $5,000 be recorded? Debit Credit Net income It would not be recorded because the cash comes from the owner.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.2: Deferrals

Problem 1AYU

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Question

If a business owner invests $5,000 in cash into the business, which side of the T for the cash account would the $5,000 be recorded?

Debit

Credit

Net income

It would not be recorded because the cash comes from the owner.

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