Goods withdrawn by the proprietor for personal use are recorded by:
A. Debiting Purchases, Crediting Drawings
B. Debiting Drawings, Crediting Sales
C. Debiting Drawings, Crediting Purchases
D. Debiting Capital, Crediting Cash
Answer: Option C
Solution (By JKSSB Mock Tests)
Drawing goods reduces the stock of items bought for resale, so Purchases A/c is credited at cost price.
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