Multiple Choice
The owner's drawing account is closed by debiting
A) the owner's drawing account and crediting the owner's capital account.
B) the owner's capital account and crediting the owner's drawing account.
C) Income Summary and crediting the owner's drawing account.
D) the owner's drawing account and crediting Income Summary.
Correct Answer:
Verified
Correct Answer:
Verified
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Q15: The first step in the closing process
Q16: Which of the following accounts has a
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