If Tim Jones, the owner of Jones Hardware proprietorship, uses cash of the business to purchase a family automobile, the business should record this use of cash with an entry to:
a. Debit Salary Expense and credit Cash.
b. Debit Tim Jones, Salary and credit Cash.
c. Debit Cash and credit Tim Jones, Withdrawals.
d. Debit Tim Jones, Withdrawals and credit Cash.
e. Debit Automobiles and credit Cash.
Answer: d. Debit Tim Jones, Withdrawals and credit Cash.
Business
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