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Cash withdrawn from bank for private use Rs. 4,000. ​
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40 votes
40 votes
Cash withdrawn from bank for private use Rs. 4,000. ​

User Ricardo Gasca
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1 Answer

20 votes
20 votes

Step-by-step explanation:

Drawings A/c Dr… 55,000

To Bank A/c 40,000

To Furniture A/c 15000

(Being Cash withdrawn and furniture taken for Private Use)

Here you can divide this journal into two also, but to save time i combined them in one. So we have debited Drawings and Credited Furniture & Bank with their respective amounts which will give effect in the final balance sheet.

User Kaltresian
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