Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be O Dr. Capital . Cr. Supplies. O Dr. Drawings . r. Supplies. O Dr. Supplies . Cr. Drawings. O Dr. Supplies . Cr. Capital.
Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be O Dr. Capital . Cr. Supplies. O Dr. Drawings . r. Supplies. O Dr. Supplies . Cr. Drawings. O Dr. Supplies . Cr. Capital.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter2: Analyzing Transactions: The Accounting Equation
Section: Chapter Questions
Problem 1MC: An increase to which of these accounts will increase owners equity? (a) Accounts Payable (b) Drawing...
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