3) To close a partners drawings account, an entry must be made that: Select one: a. No entry b. credits that partners drawings account and debit that partners capital account c. debits that partners drawings account and credits income summary d. debits that partners drawings account and credits that partners capital account

4) XYZ, Inc. sells 100 shares of treasury shares at $13 per share. If the cost of acquiring the shares was $10 per share the entry for the sale should include credits to: Select one: a. Treasury Shares $1,000 and shares premium - treasury 300 b. Treasury Shares $300 and shares premium 1000 c. Treasury Shares $1,000 d. Treasury Shares $1,300

5) To close the loan from partner , the debit side will be Select one: a. No entry b. partner loan c. cash d. partner capital