Drawings accounts of partners : When partner withdraw cash goods or assets from the partnership firm for his personal use, this amount is known as drawings of partners, which is to be debited to drawings account of partner.
If provision is made in partnership deed, then interest on drawings is also debited to the drawing account.
At the end of the accounting year, drawing account is closed and the balance is transferred to the partners capital account if fluctuating capital account method is followed or in fixed capital method, it is debited to the partner current-account.
Journal entry for the same is passed as follows :
