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Which of the following statements is true

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Question - The net income of Harriet Company for the year is $25,000. The owner made withdrawals during the year of $30,000. Which of the following statements is true?

A. Owner, Capital account increases by $30,000.

B. Owner, Capital will remain the same.

C. Owner, Capital account decreases by $5,000.

D. Owner, Capital account decreases by $25,000.

Reference no: EM132621965

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