Question

Interest on drawings is credited to _____ Account​

Answer 1

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Interest on drawings is credited to Profit and Loss Appropriation Account.

$\sf\green{Explanation:-}$ Interest on drawing is a gain for the firm. It is calculated at the agreed rate. The amount of interest on drawings will be credited to Profit and Loss Appropriation Account and will be debited to partner's capital account/current account (Individually).

Answer 2

Answer:

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