Raja sir is right.
it is to be consider as drawings.
entry is Drawings a/c dr
to Purchases
later drawings amount to be adjust with Capital
Capital a/c Dr.
To drawings a/c
| Originally posted by : Nishikant | ||
 |
No sir it's not purchase for personal use it purchase for sale then |  |
negative capital a/c balance. i.e. capital account with debit balance.
CAclubindia
