The Proprietor of Martin Supply Service Took a $5,000 Cash

question 93

Multiple Choice

The proprietor of Martin Supply Service took a $5,000 cash withdrawal.What is the effect of the withdrawal on the accounts of the business?

• A) Cash account decreases; Owner's capital account decreases.
• B) Cash account increases; Accounts receivable decreases.
• C) Accounts payable increases; Owner's capital account decreases.
• D) Cash account increases; Owner's capital account decreases.

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Definitions:

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