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What is the journal entry for drawing money from bank for personal use?
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Answer Posted / shivangi
cash A/c.Dr.
bank A/c. Cr.
(being cash withdraw from bank.)
it will not taken in drawing a/c.,bcoz whether cash is used for any purpose but main point is cash is withdraw from bank. if cash is withdraw for personal use "from business" then drawing will dr. but here cash is withdrawn "from bank".
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