Multiple Choice
What is the closing entry for drawings of $25 000?
A) No closing entry is required
B) Debit profit and loss summary account $25 000; credit drawings $25 000
C) Debit bank $25 000; credit drawings $25 000
D) Debit owner's capital account $25 000; credit drawings $25 000
Correct Answer:
Verified
Correct Answer:
Verified
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