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If Taylor Willow,the Sole Stockholder of Willow Hardware,uses Cash of the Business

Question 14

Multiple Choice

If Taylor Willow,the sole stockholder of Willow Hardware,uses cash of the business to purchase a family automobile,the business should record this use of cash with an entry to:


A) Debit Salary Expense and credit Cash.
B) Debit Cash and credit Salary Expense.
C) Debit Cash and credit Dividends.
D) Debit Dividends and credit Cash.
E) Debit Automobiles and credit Cash.

Correct Answer:

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