Accounting · Journal Entries
What journal entry is required to record goods taken from inventory by the owner for personal use?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Debit Purchases A/c and Credit Drawings A/c
- 2Debit Drawings A/c and Credit Inventory A/c
- 3Debit Sales A/c and Credit Drawings A/c
- 4Debit Drawings A/c and Credit Purchases A/c✓
Correct answer
Debit Drawings A/c and Credit Purchases A/c
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