Question: If the fixed capital balances method ( method 2 ) is used to account for partnership equity, both the profit or loss and the partner's
If the fixed capital balances method method is used to account for partnership equity, both the profit or loss and the partner's drawings are closed to the:
a
partners' capital accounts.
b
profit or loss summary account.
c
profit distribution account.
d
partners' retained earnings accounts.
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