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On January 15, the owner of a sole proprietorship withdrew $2,000 cash for personal use from the business. How would this entry be posted to
On January 15, the owner of a sole proprietorship withdrew $2,000 cash for personal use from the business. How would this entry be posted to the ledger? a.) Wages Expense 501 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 Cash 101 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 b.) Cash 101 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 Owner's Withdrawal 302 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 c.) Wages Expense 502 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 Accounts Payable 201 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 d.) Owner's Withdrawal 302 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000 Cash 101 Date Explanation Ref Debit Credit Balance Jan-15 1 $2,000 $2,000
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