Assignment#2

Put another $3,000 of your own cash into the business as owner's equity.

acct no.		acct. name			debits		credits
100			CASH				$22,000		$12,000
							  $8,000			$0
							$50,000			$0
							  $
110			ACCT.REC.				$0			$0
120			VEHICLES			$12,000			$0
							  $8,000
							  	$0			$0
130			ACCT. PAY.			    	$0		  $8,000
										  $1,000
			  							  $8,000
140			EQUIPMENT			 $1,000 
160			INVENTORY				$0			$0
220			OWNER'S EQUITY		       	$0		$50,000
										  $	
260			LABOR			    	$0		 	$0
270			PARTS			       	$0		 	$0

Next, we'll credit OWNER'S EQUITY and debit CASH again, this time for $3,000.  
Here we are adding to an asset account, CASH (debit) and adding to a libility account, 
OWNER'S EQUITY (credit)