The entries for cash drawn from the bank by a proprietor for the private use is: debit
- Bank Account; credit Cash Account
- Cash Account; credit Bank Account
- Cash Account; credit Drawings Account
-
Drawings Account; credit Bank Account
The correct answer is: D
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.