What Is the Closing Entry for Drawings of $25 000

question 34

Multiple Choice

What is the closing entry for drawings of $25 000?

• A) Debit owner's capital account $25 000; credit drawings $25 000
• B) Debit profit or loss summary account $25 000; credit drawings $25 000
• C) Debit bank $25 000; credit drawings $25 000
• D) None of the above

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Definitions:

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Hormone that is secreted by the pancreas to control the levels of fats, proteins, and carbohydrates in the body by increasing the level of glucose in the bloodstream.

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The physiological sensation that motivates the consumption of food.

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Individuals who have a strong preference for experiences that are novel, varied, complex, and intense, and are willing to take physical and social risks for the sake of such experiences.

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