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What entry will be passed when …

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What entry will be passed when a loan owed by a partner to firm of 50000 is settled by paying to a creditors of 40000 in full settlement at time of dissolution.?

    • Posted by Khushi Sharma 8 years, 1 month ago

    CBSE > Class 12 > Accountancy
    • 4 answers

    Dhairya Gupta 8 years, 1 month ago

    In case of any other loan (except partner loan) no entry would be passed

    0Thank You

    Dhairya Gupta 8 years, 1 month ago

    Amount 50000

    0Thank You

    Dhairya Gupta 8 years, 1 month ago

    There will be a realization Dr to partners loans ac

    0Thank You

    Anjali Gupta 8 years, 1 month ago

    No entry..

    3Thank You

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