Unformatted text preview: $15,000 to open the business. Therefore, an asset account (cash) increases and is debited for $15,000, and the owner's capital account (J. Green, capital) increases and is credited for $15,000. Notice that the cash account has a debit balance and the J. Green, capital account has a credit balance. Since both balances are normal, brackets are not used....
View Full Document
This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10