Assume that Bernards Novelty is a partnership. Which transaction would occur if Partner A withdraws cash for
Question:
Assume that Bernard’s Novelty is a partnership. Which transaction would occur if Partner A withdraws cash for personal use to purchase an automobile?
a. Debit Salary Expense and credit Cash
b. Debit Cash and credit Partner A, Withdrawal
c. Debit Partner A, Withdrawal and credit Cash
d. Debit Capital and credit Cash
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