UK Account payable to owner and capital contribution (owner)


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May 25, 2015
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Hi,
I would like to know if its right to use an account payable to owner to book for all expenses that the owner pays for the year. Then at the end of the year, we will credit the account and debit the capital contribution account, is it correct?
Since, during the year, the owner take his own money, shall we use the account payable or capital contribution account to deduct the amount taken?
thanks
 
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