Which of the Following Entries Records the Withdrawal of Cash

question 54

Multiple Choice

Which of the following entries records the withdrawal of cash for personal use by Ty Knott, the owner of a business?

• A) Debit Cash and credit Ty Knott, Capital
• B) Debit Cash and credit Salary Expense
• C) Debit Salary Expense and credit Cash
• D) Debit Ty Knott, Drawing, and credit Cash

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Definitions:

Expedite

To speed up the process or progress of something to achieve a faster outcome or result.

Filing

The process of organizing documents in a systematic way for easy retrieval and management of information.

Finding

The result or outcome of an investigation, examination, or inquiry, often presented in the form of a conclusion or discovery.

Folders

Physical or digital containers used to organize and store documents and files.