True or False
State whether the following statements are ‘True or False’ with reasons.
A cash withdrawal from the business by the trader should be credited to Drawings A/c.
This statement is False.
A cash withdrawal from the business by the trader should be debited to Drawings No as it is a personal transaction.
Concept: Posting of Entries from Journal/Subsidiary Books to Ledger
Is there an error in this question or solution?