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Janice is the sole owner of Janice's Bakery. Last accounting period, Janice withdrew $800 in cash for personal use. How should this withdrawal be recorded?
Janice is the sole owner of Janice's Bakery. Last accounting period, Janice withdrew $800 in cash for personal use. How should this withdrawal be recorded? O It should be debited to the liability account Owner's Drawings and credited to the asset account Cash. O It should be debited to the equity account Owner's Drawings and credited to the asset account Cash. O It should be credited to the equity account Owner's Drawings and debited to the asset account Cash. O It should be credited to the liability account Owner's Drawings and debited to the asset account Cash
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