Question

Withdraw goods for personal use ₹500

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

Drawing A/C Dr…. Rs. 1000

To Cash A/C Rs. 1000

( Being the Rs.1000 are withdrawn for personal use)

Drawing A/C Dr…. Rs. 500

To Purchases’ A/C Rs. 500

( Being the goods worth Rs. 500 withdrawn for personal use)

Note:- You can also pass combined journal entry.