Math, asked by abhishek9667609257, 9 months ago

charge interest on drawings 1500

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Answered by khushimasson9560

Interest on Drawings will be debited to capital account. Interest on drawing is an income for the firm and is payable by the partners to the firm hence, is deducted/debited. Interest is charge on the money/goods taken by the partners for their personal use during the year.

Answered by Anonymous

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