Question

Cash withdrawn from bank for private use Rs. 4,000.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

Answer 1

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(Being Cash withdrawn and furniture taken for Private Use)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.