Kenny and Jeff Form a Partnership

question 54

Multiple Choice

Kenny and Jeff form a partnership.During the year,Kenny and Jeff withdraw $30,000 and $23,000,respectively.Which of the following will be included in the journal entry to record the withdrawals?

• A) debit to Kenny, Withdrawals for $30,000
• B) debit to Jeff, Withdrawals for $7000
• C) credit to Kenny, Withdrawals for $30,000
• D) credit to Jeff, Withdrawals for $23,000

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Definitions:

Brake Fade

The reduction in braking power that occurs after repeated or sustained use, often due to overheating of the brake components.

Hydraulic

Relating to a system operated by the motion and pressure of fluids, used in various applications including machinery and vehicle brakes.

Integral

Essential or necessary for completeness; often used to describe parts that are built as a single unit.

Electrical

Pertaining to the technology of electricity, including its generation, transmission, distribution, and devices or systems that use electrical power.