Fatima withdraws goods from the business for personal use. the accounting treatment is to debit?

By: |Published on: Dec 5|Categories: Accounting JAMB| 0 comments

A. stock account and credit profit and loss account
B. drawings account and credit stock account
C. profit and loss account and credit drawing account
D. stock account and credit drawings account

Correct Answer:

Option B – drawings account and credit stock account

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