O-LevelAccountingSources and recording of data7707/12 · May/June 2024 · Q221 Mark

Where is interest on drawings entered in the accounting records of a partnership business? appropriation account partner's capital account partner's current account A debit no entry credit B credit no entry debit C debit credit no entry D credit debit no entry

Adebit; no entry; credit

Bcredit; no entry; debit

Cdebit; credit; no entry

Dcredit; debit; no entry

✓ Correct answer

B: credit; no entry; debit

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 2, question 22.

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