Question

How do I enter the following investment as a compound entry in a general journal? I also don't understand how cash is different from capital. Help!!!

ASSETS
Cash...............20,000.00
Moving Van.........40,000.00
= 60,000.00

LIABILITIES & OWNER'S EQUITY
Bank Loan..........15,000.00
Capital, J.Herta...45,000.00
= 60,000.00

Oct 13, 2006

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