With the flashing insertion point positioned in the Account No field, click on the pull down menu and double click on “3110 Owner’s Capital”. Press TAB to move to the Description field. This should repeat the information entered in step 6 by default. Press the TAB key again twice to move to the Credit field.

Enter “17000”. Hit TAB twice to move the cursor back to the Account No field. This completes the data you need to enter into the General Journal dialog box to record the compound journal entry for the initial investment by the owner. Your screen should look like this:

9.Review the compound journal entry for accuracy, noting any errors and mak¬ ing any editing corrections required. LO.1

Transcribed Image Text:

General Journal Entry Close Post Recy Edit Delete Help Date Jan 1, 2001 Reference Memo Reyerse Transaction Account No. Description 1110 Initial Investment by owner Cash 1230 Initial Investment by owner Debit 5,000.00 Account will be increased 12,000.00 Credit Job Automobile Account will be increased 3110 Initial Investment by owner 17,000.00 Owner's Capital Account will be increased Account Description Totals: 17,000.00 Account Increased/Decreased 17,000.00 Out of Balance: 0.00