Which of the following is correct, assuming the following transaction: R. Dirk invested $20,000 cash in the business.
A) Cash is debited.
B) Cash is credited.
C) R. Dirk, Capital is debited.
D) Income from Services is credited.

Question

Quizplus · Accepted Answer

When cash is invested into the business, cash account increases, therefore, the account should be debited.

Which of the Following Is Correct, Assuming the Following Transaction