if a partner take goods for personal use which accounts are debited and credited and why???
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Explanation:
If partner take goods for personal use it is called as drawing
Drawing Account Dr
To Goods Account
(being goods withdrawn by partner)
drawing is expenses to business so it is debited as per golden rule of accounts Dr all expenses and losses
and goods goes out of business so it is credited as per Golden rule of Accounts Credit what goes out
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