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Mainliner
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Distribution to owner

QuickBooks Online Edition
10/26/09 8:16 PM
Total Views: 30

what is the journal entry to taking out cash to pay the owner a distribution in a sole proprietorship?

 
 
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All Replies:  Answers (1)  
greenmtn
Certified ProAdvisor
 
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Answer

10/29/09 11:11 AM

Set up an account under Equity - owner's draw.  Debit this and credit cash, use the write check option will get that done.

 
 
 
 
 
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