Morris Lest recorded the closing entries for his sole proprietorship.The entry to close the M.Lest,Drawings account requires a:
A)debit to M.Lest,Capital.
B)debit to M.Lest,Drawings.
C)debit to M.Lest,Retained Earnings.
D)credit to M.Lest,Capital.

Question

Quizplus · Accepted Answer

The closing entry includes a debit to M.Lest,Capital and a credit to M.Lest,Drawings.

Morris Lest Recorded the Closing Entries for His Sole Proprietorship