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Cy Walker invests $16,000 and you invest $4,000 in Mookle The Beagle Coach as owners of the LC S Corporation for an 80/20 split in
Cy Walker invests $16,000 and you invest $4,000 in Mookle The Beagle Coach as owners of the LC S Corporation for an 80/20 split in ownership. Both amounts are paid by e-check and the unds deposited into the company Checking account using one bank deposit using Account 3220: Shareholders' Equity: Contrlbutions. For the Received From fleld, add Cy Walker and Your First Initial Last Name as Employees. (Note: we use Employees because there is no Contact Type option for Other or Owners.) Save the Deposit. Reopen the Deposit > from the lower Menu Bar, select More > Transaction Journal. a. What are the Accounts and Amounts Debited? b. What are the Accounts and Amounts Credited? Pay $2,000 rent for February to Joseph Leasing by e-check. To record, select (+) New > Expense 5048 Rent \& Lease Expense
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