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The net income of Harriet Company for the year is $25,000. The owner made withdrawals during the year of $30,000. Which of the following statements
The net income of Harriet Company for the year is $25,000. The owner made withdrawals during the year of $30,000. Which of the following statements is true?
A.Owner, Capital account increases by $30,000.
B.Owner, Capital will remain the same.
C.Owner, Capital account decreases by $5,000.
D.Owner, Capital account decreases by $25,000.
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Integrated Accounting
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
8th edition
