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The journal entry to record a withdrawal by the owner would most commonly include __________. A. a debit to Wage Expense and a credit to Cash B. a debit to Capital and a credit to Cash C. a debit to Withdrawals and a credit to Cash D. a debit to Cash and a credit to Wage Expense
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The journal entry to record a withdrawal by the owner would most commonly include: a debit to Withdrawals and a credit to Cash.
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Asked 12/4/2015 12:31:10 PM
Updated 12/4/2015 6:35:45 PM
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The journal entry to record a withdrawal by the owner would most commonly include: a debit to Withdrawals and a credit to Cash.
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Added 12/4/2015 6:35:45 PM
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Questions asked by the same visitor
How do you close the expense accounts? A. debit Capital; credit the expense accounts B. credit Capital; debit the expense accounts C. credit Income Summary; debit the expense accounts D. debit Income Summary; credit the expense accounts
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Question
Updated 12/4/2015 6:45:53 PM
1 Answer/Comment
To close the expense accounts: debit Income Summary; credit the expense accounts.
Added 12/4/2015 6:45:53 PM
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