If an owner withdraws cash for personal use the transaction should be recorded in the
A) sales journal.
B) cash receipts journal.
C) general journal.
D) cash payments journal.

Name: If an owner withdraws cash for personal use the transaction should be recorded in the A) sales journal. B) cash receipts journal. C) general journal. D) cash payments journal.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

Withdrawing cash for personal use is a payment made by the owner, therefore it should be recorded in the cash payments journal.

If an Owner Withdraws Cash for Personal Use the Transaction