Accountancy, asked by shahaniket786, 4 months ago

interest on drawings is transferred in accounts book​

Answers

Answered by Anonymous
2

Answer:

here's ur answer dude

Explanation:

The interest on drawings is transferred to the credit side of the profit and loss account. Explanation: Interest on drawings is a gain for the business and an expense for the proprietor. Since accounting records are maintained from a business point of view, it is credited to the Profit and Loss Account.

hope it helps

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