Withdrew cash from the business of Rs.50,000/- should be debited to
A. Cash account
B. Bank account
C. Capital account
D. Drawings account
Answer:A
Withdrew cash from the business of Rs.50,000/- should be debited to
A. Cash account B. Bank account C. Capital account D. Drawings account
Explanation: Due to cash withdrawal, the Bank balance will be reduced, and the Cash balance will be increased. Therefore, the “Cash account” will be debited.