Question

journal entry on household transaction

Answer 1

Drawing acc. Dr. To cash or bank acc.

Answer 2

Journal entry

Explanation:

                              Books of (--- Limited)

                                 Journal entry

Date       Account Title and explanation     Debit   Credit

           Drawing                 A/c Dr.                    xxx

               To cash/bank       A/c                                       xxx

    (Being household expenses made from business.)

Explanation: Household expenses treated as drawing for the business.

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