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When an owner withdraws cash or other assets from a business for personal use these withdrawals are termed?

Drawings.


When the owner withdraws cash the owner's drawing account is?

decreased by a debit


Does assets decrease when an owner withdraws cash?

Yes owner withdraws in form of cash or assets so ultimately it reduces the assets of business as well.


What is the journal entry when the owner withdraws money from the business account for personal use?

debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash


Why the journal entry is debit when the owner withdraws money from the business account for personal use?

It is a debit because money is being taken from the account. You debit the owner's capital account and credit cash/bank.


Which entry in the records documents the owner's taking cash for personal use?

The entry in the records that documents the owner taking cash for personal use is typically recorded as a withdrawal or a cash disbursement.


Who pays the realtor fees in a sale by owner transaction?

In a sale by owner transaction, the seller typically pays the realtor fees.


When purchasing land with owner financing does the transaction need to be recorded showing a lien on the title or deed before or after paid in full?

The lender definitely would want to file the lien at the same time as the sale transaction takes place.


When J Simmons the owner invests in her business the transaction would be entered on the?

When J Simmons the owner invest in her business the transaction would be entered on the


In a for sale by owner transaction, who pays the buyer's agent commission?

In a for sale by owner transaction, the seller typically pays the buyer's agent commission.


Who pays the buyer agent fees in a for sale by owner transaction?

In a for sale by owner transaction, the seller typically pays the buyer agent fees.


What transaction decreases owner's equity?

expenses