If we take goods for own use we should (A) Debit Drawings Account: Credit Purchases Account (B)
Question:
If we take goods for own use we should
(A) Debit Drawings Account: Credit Purchases Account
(B) Debit Purchases Account: Credit Drawings Account
(C) Debit Drawings Account: Credit Stock Account
(D) Debit Sales Account: Credit Stock Account.
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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
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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