If the owner of a company withdraw money from company account, will it be recorded in accoun?
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If the owner of a company withdraw money from company account, will it be recorded in accoun?
If the owner of a company withdraw money from company account, will it be recorded in account
Yes it would be recorded as owner drawing
You will debit drawings account and credit cash account since the withdrawal from the owner reduces the company's cash.
Yes it is recorded.
dr. drawing, owner... xxx
Cr. Cash... xxx
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