Journal Entry for Interest on Drawings Last Updated : 05 Apr, 2023 Improve Improve Like Article Like Save Share Report The amount withdrawn from the capital by the proprietor for personal use is called drawings. Businesses can charge interest on the amount of drawings. Journal Entry: Example 1: Interest is charged on drawings ₹500. Solution: Example 2: Withdrawn cash from the business for personal use ₹5,000. Interest charged on Drawings @6%. Solution: Like Article Suggest improvement Previous Journal Entry for Interest on Capital Next Journal Entry for Use of Goods in Business Share your thoughts in the comments Add Your Comment Please Login to comment...