Question

the double entry effect of drawings will be
and
1 poin
O P&L A/c Dr. Side , subtract from Assets
O
P & L A/c Dr. And Asset Side
O Trading A/c Dr. And subtract from Capital
O Subtract from Capital and P& L Dr side​

Answer 1

Answer:

In keeping with double-entry bookkeeping, every journal entry requires both a debit and a credit. Because a cash withdrawal requires a credit to the cash account, an entry that debits the drawing account will have an offsetting credit to the cash account for the same amount.

Explanation:

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