Accountancy, asked by kanwalchopra95, 3 days ago

jouranal entry for withdrawal of cash from the business

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Answered by mchelsichanu

Answer:

the company can make the owner withdrawal journal entry by debiting the withdrawals account and crediting the cash account.

The withdrawals account is a contra account to the capital in the equity section of the balance sheet. Likewise, the normal balance of the withdrawals account is on the debit side.

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jouranal entry for withdrawal of cash from the business​

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jouranal entry for withdrawal of cash from the business