The Recording Process Illustrated

The Recording Process Illustrated - $15,000 to open the...

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The Recording Process Illustrated To understand how to record a variety of transactions, consider the description and analysis of the  Greener Landscape Group's first thirteen transactions. Then see how each transaction appears in  the company's general journal and general ledger accounts. Transaction 1:  On April 1, 20X2, the owner of the Greener Landscape Group, J. Green, invests 
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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....
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