04-18-2013, 09:38 PM
Are we entering the information below in a general journal because owner's drawing decreases Equity/Capital there to decrease this you Dr?
You Cr cash because the drawing decreases the cash for the business which can be accomplished by Cr the cash account?
Is my logic sound?
Owner's Drawing Dr 1,000
Cash Cr 1,000
You Cr cash because the drawing decreases the cash for the business which can be accomplished by Cr the cash account?
Is my logic sound?
Owner's Drawing Dr 1,000
Cash Cr 1,000
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