An owner invests $20,000 in her new business by depositing the cash in the business's checking account.Which account is credited?

Name: An owner invests $20,000 in her new business by depositing the cash in the business's checking account.Which account is credited?
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Question

Quizplus · Accepted Answer

The owner's investment is a capital contribution, which increases the equity in the business. The Cash account is credited to reflect the increase in cash assets.

An Owner Invests $20,000 in Her New Business by Depositing