What is the purpose of a drawing account in a partnerships financial records? Discuss.

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What is the purpose of a drawing account in a partnership’s financial records? Discuss.

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Fundamentals of Advanced Accounting

ISBN: 978-0077862237

6th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

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Question Posted: Jan 08, 2015 08:08 AM

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What is the purpose of a drawing account in a partnerships financial records? Discuss.

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The Drawing account measures the amount of assets that a parti...View the full answer

Fundamentals of Advanced Accounting

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