I decided to withdraw $1,000 from my bank account on 9/18 and I only used $800 for business expenses. I deposited $200 back into my account on 9/25.
I am having difficulties recording these transactions to quickbooks.
Here is what I have:
9/15 ($1,000) withdraw: $800 Expense account & $200 loan payable account (current liability).
9/25 +$200 deposit: Accounts Receivable.
I know this is not right because the $200 were not really a loan. I just did not know how to record it. Any help is much appreciated.
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