- K Canopy The Proprietor Of Canopy Services Withdrew 5 700 From The Business During The Current Year The Entry To Cl 1 (16.22 KiB) Viewed 25 times
K. Canopy, the proprietor of Canopy Services, withdrew $5,700 from the business during the current year. The entry to close the withdrawals account at the end of the year is: Debit K. Canopy, Withdrawals $5,700; credit K. Canopy, Capital $5,700 O Debit K. Canopy, Capital $5,700; credit K. Canopy, Withdrawals $5,700 O Debit K. Canopy, Capital $5,700, credit Salary Expense $5,700 Debit K Canopy, Withdrawals $5,700; credit Cash, $5,700 O Debit Income Summary $5,700; credit K. Canopy, Capital $5,700