John contributed $6,000 to the business by opening a bank account in the name of the business,United Internists.This transaction results in an increase in the assets of the business.

Question

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When John opens a bank account in the name of the business and contributes the amount of $6,000, it results in an increase in the assets of the business. This is because the bank account is an asset of the business, and the amount deposited increases the value of the asset.

John Contributed $6,000 to the Business by Opening a Bank