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The withdrawals account of each partner is: Credited with his/her share of profit. A permanent account and not closed. Debited with his/her share of losses.

The withdrawals account of each partner is:

		Credited with his/her share of profit.
		A permanent account and not closed.
		Debited with his/her share of losses.
		Debited when closed to his/her capital account.
		Credited when closed to his/her capital account.

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