A transaction is a business deal or agreement that effects the financial condition of a business.

In a typical business transaction we get something and give up something.

Which of the following is not a transaction recorded in a bookkeeping system ?

Transactions use debits and credits and accounts to initially record them in journals.

Transactions have no effect on the Accounting Equation.

A Loan to the business by an owner is not an example of a transaction.

The Bookkeeping Process starts by recording a transaction in a Journal.

If an owner invests cash in a business an Asset Account increases and an Expense Account decreases.

If a business makes a Cash Sale to a customer an Asset Account increases and a Revenue Account increases.

If a business records a utility bill that has terms of 30 days, an Expense Account increases and a Liability Account increases.