For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system:
Transaction:
Owner withdrew $3,000 cash for personal use.
which two accounts are
affected?
Choose one
Choose one
What kind of accounts are
they?
Choose one
Choose one
Do the account balances
increase or decrease?
Increase
Decrease
Increase
Decrease
Do we debit or credit the
accounts?
Debit
Credit
Debit
Credit
x
6
?
Explanation
Check