A and B were partners in a firm sharing profits in the ratio of 4:5. During the year ended 31-3-2015 A withdrew Rs.19,000. Interest on A's drawings was Rs.700.
Pass necessary Journal entry for charging interest on A's drawings assuming that the capitals of the partners were fixed.
|Date||Particulars||L.F.||Dr. (Rs)||Cr. (Rs)|
A’s Current A/c Dr
To Interest on Drawings A/c
(Being interest on drawings charged to A’s Capital A/c)
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