The lesson covered basic accounting transactions for the business operations of a company named Mispaċ, starting with an initial capital of 5,000 cash on September 2. It discussed additional investments made by Mispaċ, totaling 25,000, and a loan of 35,000 from Mr. Valletta, with a focus on how to properly record these transactions using debit and credit in various accounts. Key accounts highlighted included cash, capital, and the business bank account.