Define the accounting equation You purchased a $50,000 with $20,000 of your own money and financed the remaining $30,000. How would you show this transaction using the accounting equation? Discuss your expectation(s) upon completion of this accounting class, and how much time you believe you should invest each week in the your studies.

Accounting equation B/s THE ACCOUNTING EQUATION Double-entry system of BALANCE recording transactions Debit asset up ASSET LIABILITY EQUITY Credit asset down Debit liability down Credit liability up Debit equity down Credit equity up Credit revenue up Debit expense up T-ACCOUNT RvEx