Question

withdrew from business for personal use 5500​

Answer 1

Answer:

what is this ...i can't understand

Answer 2

Answer:

Date. particular. L.F. cash(Dr) cash(cr)

1. Drawing a/c DR. – 5500. –

To cash. – – 5500

(Being cash withdrawal by owner for personal exp)

Explanation:

The rule is -

cash = real ac.

drawing= nominal ac

In nominal account the increase in expenses are

debited and decrease in expense are credited,

similarly in real ac like cash account decrease in cash is credited and increase in cash is debited