goods withdrawn by the proprietor for his personal use .write the debit and credit aspect in this transactions
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In accounting, assets such as Cash or Goods which are withdrawn from a business by the owner(s) for their personal use are termed as drawings. It is also called a withdrawal account. It reduces the total capital invested by the proprietor(s).
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Explanation:
DRAWINGS A/C DR AMT
TO PURCHASE A/C AMT
( WITHDREW GOODS FR PRSNL
USE)
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