Business, Legal & Accounting Glossary
An account used to track withdrawals, such as withdrawals from a partnership or proprietorship by a partner or owner.
To account for all the disbursements that were being made, they decided to run all of them through a drawing account.
After careful review of the drawing account, there appear to be many items called into quesion, and a full audit may be necessary.
Jean knew that the drawing account was not adding up and that her business partner, Kelly, might be taking out business funds for personal use.
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This glossary post was last updated: 30th October, 2021 | 0 Views.