Multiple Choices
(Choose 1 answer)
(1855)
J.Awn, the proprietor of Awn Services, withdrew $8,700 from the business during the current year. The entry to close the withdrawals account at the end of the year is:
A. Debit withdrawal 8,700 and credit cash $ 8,700
B. Debit capital $8,700 and credit withdrawal $ 8,700
C. Debit capital $8,700 and credit expense $ 8,700
D. Debit expense $8,700 and credit income $ 8,700
E. Credit capital $8,700 and debit withdrawal $ 8,700
