Which of the following account will be credited, when the interest on drawings is charged?
Asset account
Interest on drawings account
Partner's / Proprietor's capital account
Profit & loss account
The correct adjusting entry is:
Drawings A/c Dr
To Interest on Drawings A/c
Which of the following account will be credited when the interest on drawings is charged?
Which of the following account will be credited, when interest on capital is charged?