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Journal entries for
journal entries for drawing of good at half of purchase pirce i.e[1000/2= 500] and other half is cash paid
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Quick Summary
debit drawings account with total amount ( cash + goods worth )
credit cash account
credit purchases account
Owner paid cash to business
Cash Dr.
To Capital Cr.
To Capital Cr.
Cash a/c dr
to Capital a/c
to Capital a/c
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