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Emma is learning to interpret accounting information and is trying to understand how transactions affect a business. She thought she understood the concept of owners

Emma is learning to interpret accounting information and is trying to understand how transactions affect a business. She thought she understood the concept of owners drawings in a sole trader structure, but is confused about what would happen if the owner took home inventory for personal use (instead of cash). Explain the effect of this transaction (if any) on the four financial statements.

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