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

Accounts - Principles of Accounts JAMB 2006

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

  • stock account and credit profit and loss account
  • drawings account and credit stock account checkmark
  • profit and loss account and credit drawing account
  • stock account and credit drawings account

The correct answer is: B

Explanation

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