Answered: Paid $3,200 to the owner for his…

Business

Accounting

Paid $3,200 to the owner for his personal use. What would be the correct General Ledger Entry?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 20QR

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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Paid $3,200 to the owner for his personal use. What would be the correct General Ledger Entry?

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