Multiple Choice
At October 1, Smithson Enterprises reported owner's equity of $35,000. During October, no additional investments were made and the company posted a net loss of $3,000. If owner's equity at October 31 totals $32,000, what amount of owner drawings were made during the month?
A) $0
B) $1,000
C) $3,000
D) $7,000
Correct Answer:
Verified
Correct Answer:
Verified
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