Scott is the sole proprietor of an auto repair business and periodically makes withdrawals from his business
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Question:
Scott is the sole proprietor of an auto repair business and periodically makes withdrawals from his business account for personal use. How should Scott's bookkeeper label the account in which these withdrawals are recorded?
a) They are not recorded.
b) Owner's pay
c) Payroll account for owner
d) Owner's draw account
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