Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit

Question

TuteeHUB · Accepted Answer

Drawing Account Cash Account

TuteeHUB · Answer

Drawing Account Trade Expenses a/c

TuteeHUB · Answer

Trade Expenses a/c Drawing Account

TuteeHUB · Answer

Trade Expenses a/c Cash Account

1.	Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
A.	Drawing Account Trade Expenses a/c
B.	Trade Expenses a/c Drawing Account
C.	Drawing Account Cash Account
D.	Trade Expenses a/c Cash Account
Answer» C. Drawing Account Cash Account

Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit

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