money withdrawn by businessman for his private use rs.5000. journal entries
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drawings a/c Dr. 5000
to cash / bank a/c. 5000
money drawn for private use
hope it helps you
if so then please mark it as brainliest answer
to cash / bank a/c. 5000
money drawn for private use
hope it helps you
if so then please mark it as brainliest answer
raju8027:
to cash a/c hoga ki to bank a/c
agar usne bank se withdraw kiya h to bank otherwise kuch bhi mention nahi h question mein toh cash aayega
i hope its clear
Answered by
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Journal entry
drawings A/c Dr 5000
To cash or bank A/c 5000
(being money withdrawn for private use)
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Reason :
Drawings A/c - personal A/c , owner of the company receiver of cash so its debited
Cash A/c - Real A/c , where cash goes out of the company therefore its credited
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