Mary Martin, the Owner of Martin Consulting, Withdrew $2,000 Cash

question 47

Short Answer

Mary Martin, the owner of Martin Consulting, withdrew $2,000 cash from the company for personal use. Identify the general journal entry below that Martin Consulting will make to record the transaction.
$$\begin{array}{l}\text { A) }\\\begin{array} { | l | r | r | } \hline \text { M. Martin, Capital } & 2,000 & \\\hline \text { Cash } & & 2,000 \\\hline\end{array}\end{array}$$
B)
$\begin{array}{|l|r|r|}\hline \text { M. Martin, Withdrawals } & 2,000 & \\\hline \text { M. Martin, Capital } & & 2,000 \\\hline\end{array}$
C)
$\begin{array}{|l|r|r|}\hline \text { Cash } & 2,000 & \\\hline \text { M. Martin, Withdrawals } & & 2,000 \\\hline\end{array}$
D)
$\begin{array}{|l|r|r|}\hline \text { Cash } & 2,000 & \\\hline \text { M. Martin, Capital } & & 2,000 \\\hline\end{array}$
E)
$\begin{array}{|l|r|r|}\hline \text { M. Martin, Withdrawals } & 2,000 & \\\hline \text { Cash } & & 2,000 \\\hline\end{array}$

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Definitions:

Correspondence Analysis

Correspondence analysis is a statistical technique used to analyze and display the relationships among categorical variables in a visual way, often through charts or graphs.

Research Proposal

A detailed plan of action for a scientific study, outlining objectives, methodology, expected results, and implications.

Journal Article

A scholarly work published in an academic journal, contributing to a particular field of study.

External Validity

Refers to the extent to which the results of a study can be generalized to other settings, people, times, and measures.