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Answer Posted / dale karthik
Hi guys sorry for the 12th answer. Following is the clear
explanation for the above question.
Whenever owner utilize the cash from the company the
Journal entry will be
Drawings A/c Dr
To Cash A/c
(Being cash withdrawn from the company)
If he utilize the goods from the company for his personal
use the Journal entry will be
Drawings A/c Dr
To goods A/c
(Being the goods used for his personal)
| Is This Answer Correct ? | 20 Yes | 5 No |
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