Solved

Emilia Feridy, the Proprietor of EF Services, Withdrew a Total

Question 38

Multiple Choice

Emilia Feridy, the proprietor of EF Services, withdrew a total of $50 to pay for herdaughter's swimming lessons. What is the entry needed to record this transaction?


A) Debit Emilia Feridy, Capital and credit Cash for $50.
B) Debit Emilia Feridy, Withdrawals and credit Cash for $50.
C) Debit Emilia Feridy, Capital and credit Emilia Feridy, Withdrawals for $50.
D) Debit Cash and credit Emilia Feridy, Withdrawals for $50.
E) Debit Emilia Feridy, Withdrawals and credit Emilia Feridy, Capital for $50.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions