The owner of a business withdrew cash for personal use. Which of the following accounts will be credited?
A)Smith, Capital
B)Smith, Withdrawals
C)Cash
D)Accounts Payable

Name: The owner of a business withdrew cash for personal use. Which of the following accounts will be credited? A)Smith, Capital B)Smith, Withdrawals C)Cash D)Accounts Payable
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Question

Quizplus · Accepted Answer

When the owner withdraws cash for personal use, the Cash account is credited to reflect the decrease in the business's cash balance.

The Owner of a Business Withdrew Cash for Personal Use