Suppose A withdraw Rs 10,000 in cash from business for personal use. Which account shall be credited in this case?

Cash account

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Drawings account

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A`s capital account

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Profit & loss account

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Solution

The correct option is A
Cash account

The correct adjusting entry is:

Drawings A/c Dr

To Cash A/c

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Suppose A withdraw Rs 10,000 in cash from business for personal use. Which account shall be credited in this case?

The correct option is A Cash account The correct adjusting entry is: Drawings A/c Dr To Cash A/c

The correct option is A
Cash account

The correct adjusting entry is:

Drawings A/c Dr

To Cash A/c