Question on: JAMB Accounting - 2019
A proprietor withdraws cash from the business for private use, he
A
credits cash account and debits bank account
B
credits cash account and debits drawing A/C
C
debits cash account and credits drawings account
D
debits bank account and credits drawings account
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Correct Option: B
If a proprietor withdraws cash for private use, whether for himself or owner's use, this is regarded as drawings.
Therefore, the account involved in cash and drawings account. This means that the cash account gives while the drawings account receives.
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