T. Thomas withdraws
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:T. Thomas withdraws from his partnership with five other partners and takes cash equal to his capital
balance, in the amount of $25,000. The journal entry to reflect this transaction would include which of
the following? (Check all that apply.) Multiple select question. Credit to Cash Debit to T. Thomas,
Capital Credit to T. Thomas, Capital Debit to Cash
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