Closing Owner’s Drawings to Owner’s Capital
Transaction
During the year the owner of a sole proprietorship withdrew $24,000.00 for personal use. At year end, Owner’s Drawings has a debit balance of $24,000.00. Close it to Owner’s Capital.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
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Credit
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Debits $0.00Credits $0.00
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