Action Accounting
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Bling
Double Entry: Transaction 1 / of 22
Scene 2
/ of 136
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On the 1st May I went to my local bank and opened a new business bank account and put €5,000 of my own money into it.
Transaction: May 1st the owner invests €5,000 to start the business opening a bank account.
Tick which two ledger accounts should be used.
Advertising Account
Bank Account
Bank Interest Account
Capital Account
Cash Account
Creditor Shops R Us Account
Creditor Style Accessories Account
Debtor Greenland Golf Club Account
Drawings Account
Equipment Account
Fixtures & Fittings Account
Insurance Account
Loan Account
Purchases Account
Purchases Returns Account
Rent Payable Account
Sales Account
Sales Returns Account
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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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