Stimpy withdrew £150,000 in cash from the partnership on 1 April 20X1. The partnership has a year end of 31 December 20X1. The partnership agreement states that interest on drawings should be charged at the rate of 10% per annum. The interest on this drawing for the year to 31 December 20X1 will be recorded as follows:

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The Answer of Stimpy withdrew £150,000 in cash from the partnership on 1 April 20X1. The partnership has a year end of 31 December 20X1. The partnership agreement states that interest on drawings should be charged at the rate of 10% per annum. The interest on this drawing for the year to 31 December 20X1 will be recorded as follows:

Stimpy Withdrew £150,000 in Cash from the Partnership on 1