38.A and B are partners in a firm. During the year 2013, A withdrew * 1,000 p.m. and B withdraw
500p.m. on the first day of each month for personal use. Interest on drawings is to be charged
@ 10% p.a. The interest on drawings will be
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Interest on A' s drawing = 12000×6.5/12×10/100=650
Interest on B'drawing =6000×6.5/12×10/100=325
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