Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 15)
What is the correct journal entry for the owner's personal drawings?
Debit Capital, Credit Cash
Debit Cash, Credit Drawings
Debit Drawings, Credit Cash
Debit Cash, Credit Capital
Explanation
Drawings increase (debit) with withdrawals, while cash decreases (credit).
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