Action Accounting
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Patricia Green's Organic Fruit and Vegetable Stall
Double Entry: Transaction 1 / of 8
Scene 2
/ of 60
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On the 1st October I went to my local bank and opened a new business bank account and invested €2,000 lodging the money in the business bank account.
Transaction: October 1st, the owner invests €2,000 to start the business opening a bank account.
Tick which two ledger accounts should be used.
Bank Account
Capital Account
Creditor - Retail Displays Account
Equipment Account
Furniture Account
Insurance Account
Purchases Account
Rent Account
Sales Account
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That's correct, the bank account and the capital account are the correct accounts.
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Are you sure? Try again.
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The bank account is involved because money was lodged to the bank.
The capital account represents the owner who gave the money to the business.
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