Name :: Hareesha E
Your Country :: india
Question Title: :: journal entry
Explain your question in detail ::
Withdraw cash from bank for personal use pass journal entry
Category :: Teaching
Answer ::
Drawing / Capital Account Debit
Bank Account Credit
Logic : There is decrease in the capital which is the liability of business for business owner. So, it will debit. Our bank account is the current asset, it is also decreased due to this transaction. So, bank account will credit.
Your Country :: india
Question Title: :: journal entry
Explain your question in detail ::
Withdraw cash from bank for personal use pass journal entry
Category :: Teaching
Answer ::
Drawing / Capital Account Debit
Bank Account Credit
Logic : There is decrease in the capital which is the liability of business for business owner. So, it will debit. Our bank account is the current asset, it is also decreased due to this transaction. So, bank account will credit.