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It doesn't "transfer" to the P&L because it is not a business Expense. That doesn't prevent for showing the Owner has income, because you see the P&L lists Net Income, which is completely owned by the sole proprietor, and the bank should also be asking for the Balance Sheet, so that they can review Draws, and the Statement of Cash Flows, so that they can evaluate Debt and Assets purchased, all of which are done using that same pot of Cash = Banking.

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