Jen Rogers withdrew a total of $31,000 from her business during the current year. The entry needed to close the withdrawals account is:
A. Debit Jen Rogers, Capital and credit Jen Rogers, Withdrawals for $31,000.
B. Debit Jen Rogers, Withdrawals and credit Jen Rogers, Capital for $31,000.
C. Debit Jen Rogers, Withdrawals and credit Cash for $31,000
D. Debit Income Summary and credit Cash for $31,000.
E. Debit Income Summary and credit Jen Rogers, Withdrawals for $31,000.
Answer: A
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