K. Canopy, the proprietor of Canopy Services, withdrew $5600 from the business during the current year. The entry to close the withdrawals account at the end of the year is:
A. Debit Income Summary $5600; credit K. Canopy, Capital $5600
B. Debit K. Canopy, Capital $5600; credit K. Canopy, Withdrawals $5600
C. Debit K. Canopy, Withdrawals $5600; credit K. Canopy, Capital $5600
D. Debit K. Canopy, Capital $5600, credit Salary Expense $5600
E. Debit K Canopy, Withdrawals $5600; credit Cash, $5600
Answer: B
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