Which of the following entries closes the owner's drawing account at the end of the period?
Which of the following entries closes the owner's drawing account at the end of the period?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following entries closes the owner's drawing account at the end of the period?
Group of answer choices
debit the drawing account, credit cash
debit the owner's equity account, credit the drawing account
debit accounts receivable , credit the drawing account
debit the drawing account, credit the owner's equity account
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