What is the journal entry to close the drawing account? a. Debit the Capital account and credit
Question:
What is the journal entry to close the drawing account?
a. Debit the Capital account and credit the Drawing account
b. Debit the Drawing account and credit the Capital account
c. Debit the Revenue account and credit the Drawing account
d. Debit Drawing Expense and credit the Drawing account
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The answer is b Debit the drawing account and credit the capital account When yo...View the full answer
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Related Book For 
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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