If the variable capital balances method (method 1) is used, the profit or loss and partner's drawings are closed to the:
A) retained earnings accounts.
B) capital accounts.
C) profit or loss summary account.
D) income statement.

Name: If the variable capital balances method (method 1) is used, the profit or loss and partner's drawings are closed to the: A) retained earnings accounts. B) capital accounts. C) profit or loss summary account. D) income statement.
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The Answer is B

If the Variable Capital Balances Method (Method 1) Is Used