Accounting Made Simple – Part 1 of 10 We’re kicking off a 10-part series covering 50 key accounting transactions with clear effects on the Income Statement, Balance Sheet, and Journal Entries. In Part 1, we break down these 5 essential transactions: 1. Interest Paid 2. Interest Received 3. Loan Taken 4. Loan Repaid 5. Owner’s Capital Introduced These examples are perfect for students, revision, and interview prep. Parts 2 to 10 coming soon with the remaining 45 transactions—stay tuned! at Accoun