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Emilia Feridy, the proprietor of EF Services, withdrew a total of $50 for to pay for her daughter's swimming lessons. What is the entry needed to record this transaction? A) Debit Emilia Feridy, Withdrawals and credit Emilia Feridy, Capital for $50. B) Debit Emilia Feridy, Withdrawals and credit Cash for $50. C) Debit Cash and credit Emilia Feridy, Withdrawals for $50. D) Debit Emilia Feridy, Capital and credit Cash for $50. E) Debit Emilia Feridy, Capital and credit Emilia Feridy, Withdrawals for $50.

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gezahegnnardos51
I think it’s C but not sure
Parrain

The best entry to record Emilia Feridy withdrawing money to pay for her daughter is B) Debit Emilia Feridy, Withdrawals and credit Cash for $50.

How should withdrawals by owners be recorded?

When an owner such as Emilia Feridy withdraws money from the business, the withdrawals and credit account should be debited.

The cash account should then be credited to show that the cash in the business is being reduced.

In conclusion, option B is correct.

Find out more on owner withdrawals at https://brainly.com/question/14771059.

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