The entries for cash drawn from the bank by a proprietor for the private use is: debit

A. Bank Account; credit Cash Account
B. Cash Account; credit Bank Account
C. Cash Account; credit Drawings Account
D. Drawings Account; credit Bank Account

Correct Answer:

Option D – Drawings Account; credit Bank Account

Explanation

Cash drawn from the bank by a proprietor for the private use is not contra entry but will be treated as drawings.
Therefore the accounting entry is : debit drawings and credit bank account.