How do I produce a T account when someone has paid business rent from his personal bank account? I'm assuming this would be recorded as a debit in the rent account but I'm not sure about the bank account. Would this affect the capital?

Answer rating: 100% (QA)

When someone pays business rent from their personal bank account it affects both the rent account and the capital account Heres how you would produce a Taccount to record this transaction 1 Rent Accou... View the full answer