Question

Omission of Interest on Drawings
36. A, B, and C are partners sharing profits and losses in the ratio of 2:2: 1. After the final
accounts have been prepared, it was discovered that interest on drawings had not been taken
into consideration. The interest on drawing of partners amounted to A* 250, B 180 and C
100. Give the necessary adjusting Journal entry.
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Answer 1

Answer:

Drawings A/C. DR

To A a/c

To B a/c

To C A/c