A proprietor withdraws cash from the business for private...
A proprietor withdraws cash from the business for private use, he
Credits cash account and debits bank account
Credits cash account and debits drawing A/C
Debits cash account and credits drawings account
Debits bank account and credits drawings account
Correct answer is B
When a proprietor withdraw cash for private use, himself or owner's use, it is regarded as drawings.
The account involve is cash and drawings account. Therefore, the cash account gives while the drawings account receives.
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Use the information below to answer this question. \(\begin{array}{c|c} \text{Stock} & 11,250...