Question

charge interst on drawings 1500​

Answer 1

Answer:

Golden Rules of Journal

Personal account rule

Debit- The receiver.  

Credit- The giver.  

Real account rule

Debit- What comes in.  

Credit- What goes out.  

Nominal account rule

Debit- All expenses and losses.  

Credit- All incomes and gains.  

Now

Drawings A/c    dr                            ₹1500

        To Interest on drawings A/c            ₹ 1500

(Being charge interest on drawings ₹ 1500)

Answer 2

Answer:

The golden rules of accounting...

For personal account....

Debit - the receiver

credit - the giver.

For real account.....

Debit - what comes in

credit - what goes out.

For nominal account... .

Debit - expenses and losses,

credit - income and gains.......

Explanation:

Now your answer is.........

Drawing account Dr 1500

to interest on drawing a/c 1500...

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