How to pass Journal Entry for this scenario
I have to record transactions for new business.. There are 4 partners in an organization and money has been deposited in personal account of a partner by 1 the partners who has agreed to introduce Capital in business . (Money is introduced by 1 partner only) There is no bank account of the organization yet but to make the expenses to start the business money has been deposited in the bank account of the partner as explained earlier.
1.How can i record this transaction of introduction of money.
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