Journal Entries
Double-entry bookkeeping — every debit must have a matching credit
JE-001Posted
Record monthly rent payment
Debits
$3,500
Credits
$3,500
JE-002Posted
Record equipment purchase
Debits
$4,800
Credits
$4,800
JE-003Posted
Record depreciation — December
Debits
$200
Credits
$200
JE-004Posted
Owner capital contribution
Debits
$5,000
Credits
$5,000
Debits
Credits
Asset
Liability
Equity
Revenue
COGS
Expense