I purchased some assets (computers, speakers, monitors, software) for my company with my own money as I didnt have a business credit card then. Now I am closing the year and have made journal entries using Journal Accounting for expenses in the specific category and then credited the same to Owners Equity. As my company is incorporated, I wanted to check if it is preferable to park these credits in accounts payable or owners equity. Can I park some credits in Accounts Payable and others in Owners Equity. Thanks in advance.
