Question

Withdrawn Cash 5,000, goods cost * 6,000 (Selling
into business
* 7,500) from business for personal use.
can anyone tell journal entries for this​

Answer 1

Answer:

For this transaction, the only part to be considered is "Withdrew cash 5000 from business for personal use" because the the good's cost and selling price doesn't affect the transaction. Hence, an increase for drawings and a decrease in owner's cash is 5000

Drawings for personal use

Note: The description "drawings for personal use" is optional.

Answer 2

sister I am thinking the answer is Drawings a/c Dr.

To sales a/c

sorry sister if my answer is wrong