Question

Q8. What will be the journal entry for income tax paid 37,500?
(a) Drawings Alc
Dr.7500
To Cash A/C
7500
(c) Income Tax Alc Dr.7,500
To Drawings A/C 7,500
Debit
(b) Cash A/C
Dr.7500
To Drawings Alc
7500
(d) Drawings A/C Dr.7,500
To Income Tax 7500​

Answer 1

Answer:

Drawings Alc

Dr.7500

To Cash A/C

7500