If we take goods for own use we should (A) Debit Drawings Account: Credit Purchases Account (B)

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If we take goods for own use we should

(A) Debit Drawings Account: Credit Purchases Account

(B) Debit Purchases Account: Credit Drawings Account

(D) Debit Sales Account: Credit Stock Account.

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Frank Woods Business Accounting Volume 1

ISBN: 9780273681496

10th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: Aug 19, 2023 11:38 PM

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If we take goods for own use we should (A) Debit Drawings Account: Credit Purchases Account (B)

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The correct option for recording the scenario where goods are taken for personal use is C Debit Draw...View the full answer

Frank Woods Business Accounting Volume 1

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