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Aries and Eros Start a Partnership with Capital Contributions of $36,000

Question 150

Multiple Choice

Aries and Eros start a partnership with capital contributions of $36,000 and $55,000,respectively.Over the course of the year,Aries withdraws $5100 from the business in order to meet his personal expenses.Which of the following is the correct journal entry to record the above withdrawal?


A)  Aries, Withdrawals 5100 Cash 5100\begin{array} { | c | r | r | } \hline \text { Aries, Withdrawals } & 5100 & \\\hline \text { Cash } & & 5100 \\\hline\end{array}
B)  Aries, Withdrawals 5100 Aries, Capital 5100\begin{array} { | c | r | r | } \hline \text { Aries, Withdrawals } & 5100 & \\\hline \text { Aries, Capital } & & 5100 \\\hline\end{array}
C) No entry
D)  Aries, Withdrawals 5100 Eros, Capital 5100\begin{array} { | c | r | r | } \hline \text { Aries, Withdrawals } & 5100 & \\\hline \text { Eros, Capital } & & 5100 \\\hline\end{array}

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