A drawing account is increased by debits and decreased by credits.

Name: A drawing account is increased by debits and decreased by credits.
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A drawing account is a contra account to the owner's equity, and it records the withdrawals made by the owner from the business for personal use. It is increased by debits when the owner withdraws assets from the business, and decreased by credits when the account is closed to the owner's equity account at the end of the accounting period.

A Drawing Account Is Increased by Debits and Decreased by Credits