Homework Answers
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Here is my answer to the given question.
When we pay anything to the personal purpose of the owner then it will debited to owner's capital account or drawings account with a corresponding credit to cash or bank account depending upon the payment mode so the journal entry is as follows:
Dec-29 Dominique Walsh capital account $ 12,000
Cash / Bank account $ 12,000
Or
Dec-29 Drawings account $12,000
Cash / Bank account $12,000
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To be answered as shown in pic 3.
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