Multiple Choice
K.Canopy,the proprietor of Canopy Services,withdrew $5,700 from the business during the current year.The entry to close the withdrawals account at the end of the year is:
A) Debit K Canopy,Withdrawals $5,700;credit Cash,$5,700
B) Debit K.Canopy,Capital $5,700;credit K.Canopy,Withdrawals $5,700
C) Debit K.Canopy,Withdrawals $5,700;credit K.Canopy,Capital $5,700
D) Debit K.Canopy,Capital $5,700,credit Salary Expense $5,700
E) Debit Income Summary $5,700;credit K Canopy,Capital $5,700
Correct Answer:
Verified
Correct Answer:
Verified
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