Business, 12.08.2020 09:01 saskiat1155

For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system: Transaction:
Drawing by owner amounted to $1,500.

Required:
a. Which two accounts are affected ?
b. What kind of accounts are they?
c. Do the account balances increase or decrease?
d. Do we debit or credit the accounts?

Answers: 2

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For the following transaction, answer the questions that follow in accordance with the rules of jour...