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:

Verified
Correct Answer:
Verified
Q9: Identify the accounts that would normally have
Q11: Andrea Apple opened Apple Photography on January
Q15: The income statement,statement of retained earnings,and statement
Q18: Willow Rentals purchased $800 of office supplies
Q98: Explain debits and credits and their role
Q133: Happiness Catering has total assets of $385
Q164: The purchase of supplies on credit should
Q199: To increase an asset account we would
Q200: Lu Lu's Catering has a debt ratio
Q203: A record containing all the separate accounts