K. Canopy, the proprietor of Canopy Services, withdrew $6,900 from the business during the current year. The entry to close the withdrawals account at the end of the year is: Multiple Choice Debit K. Canopy, Capital $6,900, credit Salary Expense $6,900 Debit K Canopy, Withdrawals $6,900; credit Cash, $6,900 Debit K. Canopy, Capital $6,900; credit K. Canopy, Withdrawals $6,900 Debit K. Canopy, Withdrawals $6,900; credit K. Canopy, Capital $6,900 Debit Income Summary $6,900; credit K. Canopy, Capital $6,900

K. Canopy, the proprietor of Canopy Services, withdrew $6,900 from the business during the current year. The entry to close the withdrawals account at the end of the year is: Multiple Choice Debit K. Canopy, Capital $6,900, credit Salary Expense $6,900 Debit K Canopy, Withdrawals $6,900; credit Cash, $6,900 Debit K. Canopy, Capital $6,900; credit K. Canopy, Withdrawals $6,900 Debit K. Canopy, Withdrawals $6,900; credit K. Canopy, Capital $6,900 Debit Income Summary $6,900; credit K. Canopy, Capital $6,900

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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