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Debit is the normal balance of O loans payable O capital O prepaid rent O unearned revenue The journal entry to record the owner's cash withdrawals will require a O debit to cash account O credit to capital account O credit to drawings account credit to cash account

Debit is the normal balance of O loans payable O capital O prepaid rent O unearned revenue The journal entry to record the owner's cash withdrawals will require a O debit to cash account O credit to capital account O credit to drawings account credit to cash account

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Debit is the normal balance of O loans payable capital prepaid rent unearned revenue The journal entry to record the owner's cash withdrawals will require a debit to cash account credit to capital account credit to drawings account credit to cash account
Transcribed Image Text:Debit is the normal balance of O loans payable capital prepaid rent unearned revenue The journal entry to record the owner's cash withdrawals will require a debit to cash account credit to capital account credit to drawings account credit to cash account
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